Snowflake Inc (SNOW) Quote

I will wait until after the pullback

why?

Yeah hmm no

time to load up here

SNOW new 52 week high

SNOW new 52 week high

NOVO HOLDINGS TO ACQUIRE CATALENT

Catalent Stockholders to Receive $63.50 Per Share in Cash, Representing a 47.5% Premium to the 60-day Volume-Weighted Average Price as of February 2, 2024

Catalent, Inc. (NYSE: CTLT), a leader in enabling the development and supply of better treatments for patients worldwide, and Novo Holdings, a holding and investment company that is responsible for managing the assets and wealth of the Novo Nordisk Foundation, today announced that they have entered into a merger agreement under which Novo Holdings will acquire Catalent in an all-cash transaction that values Catalent at $16.5 billion on an enterprise value basis.

Transaction Overview

Novo Holdings will acquire all outstanding shares of Catalent for $63.50 per share in cash. The purchase price represents a premium of 16.5% to the closing price of Catalent’s common stock as of February 2, 2024, the last trading day prior to this announcement, and a 47.5% premium to the 60-day volume-weighted average price as of February 2, 2024.
In addition, the purchase price represents a premium of 39.1% to the closing price of Catalent’s common stock on August 28, 2023, the last trading day prior to Catalent’s announcement that its Board of Directors formed a Strategic and Operational Review Committee to conduct a review of Catalent’s business, strategy and operations, as well as Catalent’s capital-allocation priorities with a view towards maximizing value for all Catalent stockholders.
Of Catalent’s more than 50 global sites, Novo Holdings intends to sell three Catalent fill-finish sites and related assets acquired in the merger to Novo Nordisk (CPH: NOVO), in which Novo Holdings has a controlling interest, shortly after the closing of the merger. These three sites are located in Anagni, Italy; Bloomington, Indiana, USA; and Brussels, Belgium.
This transaction is aligned with Novo Holdings’ strategy of investing in established life science companies with strong long-term potential.
Alessandro Maselli, President and Chief Executive Officer of Catalent, said: “Over the past several years, Catalent has built a comprehensive end-to-end offering of services and capabilities to drive innovation in the healthcare system and improve patient outcomes. This transaction is a testament to our team’s hard work and dedication to this mission, and I am incredibly excited for this next step in our journey. We look forward to benefiting from Novo Holdings’ significant resources to accelerate investment in our business and enhance key offerings as we continue to offer premium development and manufacturing solutions for pharma and biotech customers.”

John Greisch, Executive Chair of the Catalent Board and Chair of the Strategic and Operational Review Committee, said: “This transaction delivers significant, certain and premium value to our stockholders. Novo Holdings believes in our vision and will provide Catalent with a strong foundation as we continue developing, manufacturing and supplying top products.”

Novo Holdings has a proven track record of successfully investing in the life sciences sector. Importantly, Novo Holdings’ purpose is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Kasim Kutay, CEO of Novo Holdings, said: “We are excited to partner with Catalent as it enters a new phase of growth and accelerates its mission to develop, manufacture and supply products that help people live better and healthier lives. With our expertise and track record of investing in high quality life sciences businesses, we believe Catalent is a very good strategic fit. We are excited to support the Company’s stakeholders in the years ahead, especially employees and customers as they work to develop new products to benefit patients. As engaged investors committed to productive relationships with all our partners, we look forward to working with the Catalent team to realise the Company’s full potential.

Importantly, our acquisition of Catalent is aligned with our mandate to invest in high quality life sciences companies for the benefit of the Novo Nordisk Foundation’s mission and philanthropic causes.”

Marc Steinberg, Partner at Elliott Investment Management L.P., said: “As a significant investor in Catalent, Elliott fully supports the transaction announced today. We believe that this transaction, which is the culmination of a process led by the Strategic and Operational Review Committee of the Catalent Board, clearly maximizes value for Catalent stockholders. We commend Catalent’s Board and management team for delivering this outstanding outcome.”

Transaction Details

The merger is expected to close towards the end of calendar year 2024, subject to customary closing conditions, including approval by Catalent stockholders and receipt of required regulatory approvals. The transaction is not subject to any financing contingency.

Following an evaluation of possible value-maximizing alternatives, the Catalent Board unanimously determined that the transaction with Novo Holdings, which delivers a premium and certain cash value, is in the best interest of Catalent. Accordingly, the Catalent Board unanimously recommends that Catalent stockholders vote in favor of the merger.

In addition, Elliott Investment Management L.P. and certain of its affiliates have entered into a support agreement pursuant to which they have agreed to vote their shares of Catalent common stock in favor of the merger.

Following the closing of the merger, shares of Catalent will no longer trade on the New York Stock Exchange and Catalent will become a private company.

Second Quarter 2024 Financial Results

Catalent’s second quarter 2024 earnings results are expected to be issued on February 9, 2024. In light of the announced transaction, Catalent will not host an earnings conference call. Catalent’s second quarter 2024 earnings press release will be available on its investor relations website at http://investor.catalent.com .

Advisors

Citi and J.P. Morgan are acting as financial advisors to Catalent. Skadden, Arps, Slate, Meagher & Flom LLP is serving as legal advisor to Catalent and Jones Day is serving as legal advisor to the Catalent Board of Directors. Morgan Stanley is acting as financial advisor to Novo Holdings and Goodwin Procter LLP is serving as legal advisor to Novo Holdings.

About Novo Holdings

Novo Holdings is a holding and investment company that is responsible for managing the assets and the wealth of the Novo Nordisk Foundation. The purpose of Novo Holdings is to improve people’s health and the sustainability of society and the planet by generating attractive long-term returns on the assets of the Novo Nordisk Foundation.

Wholly owned by the Novo Nordisk Foundation, Novo Holdings is the controlling shareholder of Novo Nordisk A/S and Novonesis A/S and manages an investment portfolio with a long-term return perspective. In addition to managing a broad portfolio of equities, bonds, real estate, infrastructure and private equity assets, Novo Holdings is a world-leading life sciences investor. Through its Seeds, Venture, Growth, and Principal Investments teams, Novo Holdings invests in life science companies at all stages of development.

As of year-end 2022, Novo Holdings had total assets of EUR 108 billion.
www.novoholdings.dk

About the Novo Nordisk Foundation

Established in Denmark in 1924, the Novo Nordisk Foundation is an enterprise foundation with philanthropic objectives. The vision of the Foundation is to improve people’s health and the sustainability of society and the planet. The Foundation’s mission is to progress research and innovation in the prevention and treatment of cardiometabolic and infectious diseases as well as to advance knowledge and solutions to support a green transformation of society.
www.novonordiskfonden.dk/en

About Catalent

Catalent, Inc. is a global leader in enabling pharma, biotech, and consumer health partners to optimize product development, launch, and full life-cycle supply for patients around the world. With broad and deep scale and expertise in development sciences, delivery technologies, and multi-modality manufacturing, Catalent is a preferred industry partner for personalized medicines, consumer health brand extensions, and blockbuster drugs. Catalent helps accelerate over 1,500 partner programs and launch over 150 new products every year. Its flexible manufacturing platforms at over 50 global sites supply approximately 70 billion doses of nearly 8,000 products annually. Catalent’s expert workforce of nearly 18,000 includes more than 3,000 scientists and technicians. Headquartered in Somerset, New Jersey, the company generated nearly $4.3 billion in revenue in its 2023 fiscal year.

SNOW has been on a tear.

CTLT gets bought out.

mb

SNOW new 52=week high

SNOW NVDA

Snowflake Inc. $SNOW Total Debt (mrq) $254.84M

150.00 now...never say never.

Nice close man…I am heavy invest into this one

I don’t think it will get below $120 again. Maybe in our dream though

wait for 120.00 to be interested.

Buy the dip man

Holding strong here

This stock is called “snow” and SP increases from May till early December, before winter begins in the U.S.., it appears. That is some sort of counter trend to the idea of snowing.

$SNOW $128 I loaded so you can dump on me now

Calls babyyyy$$$$


OMG...RIP!

SNOW melted again.

Down goes Balboa! Yo Adrian!

It just Did!

Looking at the price drop the last few days that should have read "CRIES babyyyy" LOL!

Calls babyyyy$$$$

Wow! Just...wow

Ouch!!! Wicked haircut!

If increasing revenue by 101% over the previous comparable quarter and improving the bottom line is bad, then Houston, we have a problem. It appears that the problem was disappointing forward guidance that did not match Wall Street expectations. SNOW is a screaming buy down here for long term investors, e.g. this am Cowen & Co. maintained its outperform rating but lowered its price target for SNOW to $390. Several firms still have price targets in the high $300's for SNOW, even after adjustments since the release last evening. I sure wouldn't sell any SNOW shares down here.

WOW! -30% drop after hours on bad earnings!

WOW! +50% since i started watching this bad dog....

$SNOW Total Debt (mrq) $200.53M
Book Value Per Share (mrq) $16.76
https://finance.yahoo.com/quote/SNOW/key-statistics?p=SNOW

Come on snow! 100 calls @240 expiring today ...

I was 5 days off on my ask for $270, too bad I was holding such near term options that went worthless...thanks for the reminder

I want 270 tomorrow too

King -- sorry for the loss - nobody else has the B ____S to admit it - GET IT BACK !

King -- sorry for the loss - nobody else has the B ____S to admit it - GET IT BACK !

And back down $snow goes. Can we please see 270 tomorrow

Snow may be bucking the trend here, time to move back up

Snowflake Data Marketplace Expands Total Providers Over 300%, Unlocking More Value for Thousands of Organizations!!!!
Boom

I'd love to see them dump 15 million today or tomorrow

SNOW... loading up puts, the locked up shares are in the process of being cleared by brokers

Sold my call options for loss yesterday thinking today would be big red day...this sucks

My put options went from big green to 95% loss today...friggin bs

Made money.. sold remaining shares today ..watch list SNOW$...

What a bunch of bs today...

Snowflake Lockup to End Early for Some Shares. A Blizzard of Selling Is Possible. -- Barrons.com

Today 2:22 PM ET (Dow Jones)Print


By Eric J. Savitz

Snowflake could be headed for an avalanche of insider selling.

In a securities filing late last week, the cloud-based data warehouse company disclosed that the huge run-up in its stock price following its initial public offering had triggered a provision in its lockup agreement with the company's officers, directors, and early shareholders to allow a quarter of those holdings to trade.

Terms of the deal required that Snowflake (ticker: SNOW) trade 133% above the company's $120 IPO price for at least 10 days in a 15-day period. That requirement was fulfilled on Dec. 29, and 37.9 million previously locked-up Snowflake shares will be free to trade on Thursday.

Note that the company issued 28 million shares in its September IPO. An initial tranche of previously locked-up stock became free-trading on Dec. 15.

Snowflake shares, while still well above the original IPO price, have come back a little closer to terra firma. The stock opened for trading on Sept. 16 at $245, then closed at $253.93. As recently as a month ago, the stock traded as high as $429 on an intraday basis, but it has since been gradually ebbing, closing on Monday at $278.24.

Snowflake has slipped about 14% since the first tranche of insider shares was freed up for trading.

In a research note Tuesday, Deutsche Bank analyst Patrick Colville repeated his Hold rating, cutting his price target on the stock to $335, from $270. He estimates that the additional shares to be freed this week will increase the free float in Snowflake shares by 87%.

"With Snowflake stock up almost 133% from its IPO price, we expect some investors to cash out as lockups expire," he wrote. "This could weigh on share price accretion from here."


But in trading Tuesday, Snowflake was actually up 1.6%, to $282.74.


Write to Eric J. Savitz at eric.savitz@barrons.com

(END) Dow Jones Newswires

January 05, 2021 14:22 ET (19:22 GMT)

Copyright (c) 2021 Dow Jones & Company, Inc.

Doubled down here $292, might hold on.. SNOW$...

Made money two swing trades..try again today imo.. SNOW$...

* * $SNOW Video Chart 12-15-2020 * *

Link to Video - click here to watch the technical chart video

Too soon lol ..