By Karen Roman
Private skincare company Crown Laboratories, Inc. and biotechnology company Revance Therapeutics, Inc. (NASDAQ: RVNC), made public their merger agreement to become a new combined company.
Crown plans to acquire all outstanding shares of Revance’s common stock for $6.66 per share in cash, a total enterprise value of $924 million, the companies said in a statement.
The transaction is planned to finish by the end of 2024, with Revance being wholly owned by Crown and its stock no longer publicly trading on Nasdaq, they stated.
“This is a significant step forward in Crown’s vision to become a fully integrated global aesthetics and skincare company, bringing innovative solutions to physicians, patients and consumers in the incredibly dynamic aesthetics and skincare market,” said Jeff Bedard, Crown’s founder and CEO.
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