Crown Laboratories and Revance Therapeutics Finalize Tender Offer Details Amid Acquisition Developments

Tender Offer Expiration: Crown Laboratories and Revance Therapeutics

On February 5, 2025, Crown Laboratories, Inc. (referred to as 'Crown') alongside Revance Therapeutics, Inc., publicly announced the conclusion of the tender offer aimed at acquiring all outstanding shares of common stock from Revance. This pivotal event in corporate transitions is significant both for investors and for potential future integrations of these two companies.

The tender offer was made at a price of $3.65 per share, net to stockholders in cash without the addition of interest and subject to any necessary tax withholding. Importantly, the offer expired as scheduled at precisely one minute past 11:59 PM Eastern Time on February 4, 2025, and there were no extensions of this period, marking a clear closure to this phase of the acquisition process.

Crown Laboratories has received notification from Computershare Trust Company, N.A., the designated depositary and paying agent for the offer. According to their report, a total of 86,197,893 shares — accounting for 82.0% of the total issued and outstanding shares — were validly tendered prior to the expiration of this offer. This indicates a strong interest from shareholders, which likely underscores their confidence in the strategic alignment of these companies.

Upon accepting the validly tendered shares, Crown and its affiliate, Reba Merger Sub, Inc., plan to promptly initiate payment to all shareowners who participated in the tender offer. This alignment facilitates a seamless transition towards the consummation of the acquisition, which is anticipated to finalize on February 6, 2025.

Background on the Companies

Crown is recognized as a privately-held, fully integrated global skincare company dedicated to enhancing life quality through a wide variety of aesthetic and therapeutic skincare products. The company's focus on skin science has positioned it as a leader in both dermatology and aesthetics, combined with a remarkable growth trajectory recognized through its eleven-year presence on the Inc. 5000 Fastest Growing Privately Held Companies List. With a distribution footprint extending over 50 countries, Crown’s commitment to delivering superior skincare solutions has driven its success.

Revance Therapeutics is a biotechnology company that strives to revolutionize healthcare with its innovative aesthetic and therapeutic products designed to improve patient outcomes and elevate the experiences of healthcare providers. Its portfolio boasts remarkable products like DAXXIFY (DaxibotulinumtoxinA-lanm) and the RHA Collection, with proprietary thiotechnology developed in collaboration with Teoxane SA for dermal fillers.

The proposed merger is anticipated to unlock synergies that would enhance the capabilities of both companies while further diversifying the portfolio offerings aimed at improving patient outcomes in the aesthetics market. Financial experts predict that this acquisition has the potential to reshape competitive dynamics and reinforce market positions due to their combined resources in research and development along with extensive networks.

Looking Forward

Moving forward, industry analysts will be closely monitoring the integration efforts post-acquisition to gauge the anticipated synergies and operational efficiencies that may be realized. Furthermore, investors are advised to keep a watchful eye on forthcoming statements from both companies, along with any updates regarding ongoing projects and innovations that may stem from this merger. This announcement marks a crucial step in what many view as a strategic alignment designed to enhance long-term value for stakeholders.

As these developments unfold, the strategic play by both Crown and Revance will be key not only for their operational landscapes but also for shaping consumer expectations in the rapidly evolving skincare and therapeutics market. Investors, customers, and industry participants alike are poised to observe how this significant acquisition impacts the industry's overall landscape and addresses emerging consumer needs.