GreenLight Biosciences trades 36% higher on merger agreement with Fall Line Endurance Fund

GreenLight Biosciences (NASDAQ:GRNA) to be acquired by a group of buyers led by Fall Line Capital in an all-cash transaction valued at $45.5M.

Fall Line, together with its affiliates, agreed that it would commence a tender offer to acquire all shares for $0.30 per share, net to the seller in cash.

The offer price represents a 50% premium as of May 26, 2023, the last trading day.

In connection therewith, the company will receive $15M cash and issue $15M unsecured notes for the purpose of providing working capital to the company on May 30, 2023. 

The stock price is up 36% pre-market on Tuesday.