The Life Sciences and M&A teams advised EQRx, Inc. in the closing of its acquisition by Revolution Medicines (Nasdaq: RVMD). Through the acquisition, Revolution Medicines expects to add approximately $1.1 billion in net cash proceeds to its balance sheet, after estimated post-closing EQRx wind-down and transition costs. Each share of common stock of EQRx issued has been converted into the right to receive 0.1112 shares of common stock of Revolution Medicines. Revolution Medicines expects to issue approximately 55 million shares of its common stock in connection with the merger (excluding assumed warrants and earn-out shares). EQRx common stock has ceased trading on the Nasdaq Global Market and all EQRx programs are being wound down.
EQRx is a biopharmaceutical company committed to developing and commercializing innovative medicines for some of the most prevalent disease areas.
The Goodwin team was led by Stuart Cable, Lisa Haddad, Andrew Goodman, Tevia Pollard and Bill Collins, and included Bryan Kultgen, Stephanie Barbanell, Peter Moorman, Patrick O’Brien, Evan De Ycaza, Claire Zhang (Public M&A), Marianne Sarrazin, Jonathan Elefant, Della Fok, David Li, Ravneet Purewal, Neil Doogan, Dan Liu, and Nathan J. Nelson (Corporate), Sarah Bock, Morgan Frisoli and Chris Jones (Executive Compensation and Benefits), Jennifer Fay and Caroline Galiatsos (Labor and Employment), Catherine McCarty, Ioana Davies, Suzanne Nguyen and Gregory Gutierrez (Intellectual Property), Beni Surpin and Christopher Zhong (Licensing); Dan Karelitz and Benjamin Gossels (Tax), Deborah Birnbach, Jen Luz, Katherine Dacey, and Angela Berkowitz (Litigation), Srikanth Reddy (IP Litigation), Arman Oruc, Paul Jin, Simone Waterbury, Ortal Ben Aharon, Charlie Stewart and Kevin Walsh (Antitrust), Amy Josselyn and Carrie Miller (Global Trade), Matt Wetzel and Simone Otenaike (Healthcare); Jackie Klosek (Privacy), Barry Bazian (Financial Restructuring), Brian Mukherjee (D&O Insurance), and Nathan Brodeur (Environmental).
For additional details on the closing, please read the press release.