Imago BioSciences (IMGO) to be acquired by Merck (MRK) for $36.00/share

 

 

Imago BioSciences to be acquired by Merck (MRK) for $36.00/share 

• Cos announced that the companies have entered into a definitive agreement under which Merck, through a subsidiary, will acquire Imago for $36.00 per share in cash for an approximate total equity value of $1.35 billion.
• “This acquisition of Imago augments our pipeline and strengthens our presence in the growing field of hematology,” said Merck Chief Executive Robert Davis in a news release.
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• Hematology is the branch of medicine that focuses on the study of blood diseases. Imago is a clinical stage biopharmaceutical company developing new medicines for the treatment of several bone marrow diseases.

Carvana (CVNA) lays off 1,500 employees

• Carvana is laying off about 1,500 people, or 8% of its workforce, following a free fall in the company’s stock this year and concerns around its long-term trajectory.

• The email from Carvana CEO Ernie Garcia cites economic headwinds including higher financing costs and delayed car purchasing.

• He says the company “failed to accurately predict how this would all play out and the impact it would have on our business.”

• Ticker: CVNA

Carvana is laying off about 1,500 people, or 8% of its workforce, Friday following a free fall in the company’s stock this year, a weakening used vehicle market and concerns around the company’s long-term trajectory, according to an internal message first obtained by CNBC’s Scott Wapner.

The email from Carvana CEO Ernie Garcia, titled “Today is a hard day,” cites economic headwinds including higher financing costs and delayed car purchasing. He says the company “failed to accurately predict how this would all play out and the impact it would have on our business.”

Carvana stock closed Friday at $8.06 per share, down by 3.1%. Carvana’s stock has plummeted by about 97% this year after reaching an all-time intraday high of $376.83 per share on Aug. 10, 2021.

Charts 2 years later:

 

 

 

 

Grindr (GRND) began trading on the NYSE on Fri 18 Nov 22

Grindr, which launched in 2009, reported roughly 11 million daily users per day last year. Users sent a combined 260 million messages in that same period, and spent an average of 61 minutes per day on the app. In the same announcement, Grindr estimated the value of its "highly engaged user base in a large and untapped addressable market" at $4 billion.

• Grindr begins trading on NYSE today after completing business combination with Tiga Acquisition Corp. (TINV) 

 

 

Ventyx Biosciences (VTYX) : 1-year performance

 

Getty Images (GETY) : 4-month performance