Fibrocell Science to be acquired by Castle Creek Pharma for $63.3M
Fibrocell Science has reached an agreement to be acquired by Castle Creek Pharmaceutical for a total consideration of approximately $63.3M, including repayment of debt and other financial instruments, in cash. Fibrocell common stockholders will receive all-cash consideration of $3.00 per share. This offer represents a 63% premium to Fibrocell's 30-day volume weighted average price as of September 11. The transaction was approved by the Boards of Directors of both companies and is expected to close in Q4. Upon completion of the transaction, Fibrocell will become a privately held subsidiary of Castle Creek Pharmaceutical. Fibrocell's employees will continue as employees of the combined company on completion of the transaction. Until that time, Fibrocell will continue to operate as a separate and independent company.