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Poseida Therapeutics Inc. shares purchased by Roche in tender offer

Dublin-Ireland, 8 January 2025: Malin Corporation plc (Euronext Growth Dublin:MLC) (Malin),  a company investing in highly innovative life sciences companies, today provides an update in respect of its investee company, Poseida Therapeutics, Inc ("Poseida", NASDAQ: PSTX). Roche Holdings, Inc ("Roche") has announced today that Roche's wholly owned subsidiary Blue Giant Acquisition Corp. has accepted for payment all shares validly tendered and not validly withdrawn pursuant to its tender offer for all outstanding shares of common stock of Poseida at a price of $9.00 per share in cash, plus a non-tradeable contingent value right (CVR) to receive certain contingent payments of up to an aggregate of $4.00 per share in cash. The tender offer expired at one minute following 11:59 p.m., New York City time on 7 January, 2025, and was not extended.

Later today, Roche intends to complete the acquisition of Poseida through a merger of Blue Giant Acquisition Corp. with and into Poseida without a vote or meeting of Poseida's stockholders. In the merger, all shares of Poseida not owned by Poseida, Roche or Roche's wholly owned subsidiaries (other than shares as to which appraisal rights have been validly exercised under Delaware law) will be converted into the right to receive the same consideration per share, including the CVR, as was received for shares validly tendered in the tender offer. Following completion of the merger, Poseida will become a wholly owned subsidiary of Roche, and Poseida's shares will cease to be traded on the Nasdaq Global Select Market.

Malin has an interest in approximately 12% of the issued share capital of Poseida and this transaction is expected to deliver initial net proceeds to Malin of approximately $106.5 million, with the potential to receive up to a further $47.3 million through the CVRs on the achievement of specific milestones.

The board of Malin will consider how best to return surplus capital to its shareholders and further announcements will be made in due course.

For further information please contact:

Malin

Fiona Dunlevy, Executive Director/Company Secretary

Tel: +353 (0)1 901 5700

[email protected]

Davy Corporate Finance (Financial Adviser, Euronext Growth Listing Sponsor & Broker)

Brian Garrahy / Daragh O'Reilly

Tel: +353 1 679 6363

Sodali & Co (Media enquiries)        

Eavan Gannon

Tel: +353 87 236 5973                           

[email protected]