Liminal BioSciences Inc. LMNL stock is rallying 41.7% in premarket trades on Wednesday after the company said it agreed to go private at a price of $8.50 a share. Structured Alpha LP, a fund managed by Thomvest Asset Management Ltd., agreed to acquire all of the issued and outstanding common shares of Liminal BioSciences that it does not already own. The price of $8.50 a share is a premium over the stock’s closing price of $5.92 a share on Tuesday and a premium of 135% over Liminal BioSciences closing share price on April 4, the last trading day prior to Structured Alpha’s initial offer of $7.50 a share. Liminal BioSciences has now agreed to the sweetened price of $8.50 a share. “The transaction will deliver immediate value and liquidity to our minority shareholders at a substantial premium,” said Liminal BioSciences CEO Bruce Pritchard. Liminal BioSciences describes itself as a development stage biopharmaceutical company focused on small molecule therapeutics that modulate G protein-coupled receptors, or GPCR, pathways.
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