#USA #Skincare #Crown Laboratories #Revance Therapeutics #Johnson City

Crown Laboratories Extends Cash Tender Offer for Revance Therapeutics

Crown Laboratories, Inc., a prominent player in the skincare sector, has announced an extension of its cash tender offer to acquire all issued and outstanding shares of Revance Therapeutics, Inc. Initially set to conclude on January 13, 2025, the tender offer has now been pushed to a new deadline of January 28, 2025. This decision comes at the request of Revance, which is publicly traded on Nasdaq under the ticker RVNC.

Timeline of the Tender Offer

The tender offer entails Crown offering $3.10 for each share of Revance, a price meant to entice shareholders to participate in the acquisition process. Although the original expiry time was scheduled for just after midnight on January 13, Crown has reassured stakeholders that the timeline has been adjusted to allow for potential further participation. The extension will remain effective unless the tender offer undergoes any additional changes or is terminated early.

Participation and Shareholder Response

According to Computershare Trust Company, the depositary and paying agent for the transaction, by January 10, 2025, approximately 4,167,526 shares—roughly 3.97% of the outstanding shares—had been validly tendered in response to the offer. This means that shareholders who have already tendered their stocks do not need to take any further action following the newly extended deadline.

About Crown Laboratories

Crown Laboratories stands out as a fully integrated global skincare firm dedicated to producing a diverse range of aesthetic and therapeutic skincare products. The company's mission emphasizes enhancing the quality of life for consumers throughout their skincare journey. Known for its innovative spirit and commitment to scientific advancements, Crown has established itself as a leader in both dermatology and aesthetics.

Having earned a spot on the Inc. 5000 list of the fastest growing privately held companies for 11 consecutive years, Crown's influence has expanded over 50 countries worldwide. The company continues to innovate with products that promise therapeutic excellence and positive patient outcomes.

Important Information for Stakeholders

As this acquisition process unfolds, stakeholders are advised to stay informed through formal communications. Crown has filed all relevant materials regarding the tender offer with the Securities and Exchange Commission (SEC), which includes vital information for investors. Shareholders of Revance are encouraged to read these documents carefully to fully understand the implications of the tender offer and the relationship therein.

Conclusion

At this stage, Crown Laboratories appears committed to proceeding with its acquisition plans despite market fluctuations and shareholder sentiments. By extending the cash tender offer, the company may create additional opportunities for share acquisition, enhancing its growing footprint in the competitive skincare landscape. Investors and potential stakeholders should watch the developments closely as the new deadline approaches, ensuring they are well-informed and poised to react to any significant news related to this acquisition endeavor.