Biotechnology Business

Maxygen, Inc. Announces Preliminary Results of Dutch Auction Tender Offer

Published in Genetics and Environmental Business Week, January 7th, 2010

Maxygen, Inc. (NASDAQ:MAXY), a biopharmaceutical company focused on the development of improved versions of protein drugs, announced the preliminary results of its modified "Dutch Auction" tender offer, which expired at 5:00 p.m., New York City time, on December 23, 2009.

Based on the preliminary count by the depositary for the tender offer, Maxygen expects to accept for payment an aggregate of approximately 7,345,103 shares of its common stock at a purchase price of $5.30 per share, for a total cost of approximately $38.9 million, excluding fees and expenses related to the tender offer. The 7,345,103 shares expected to be purchased in the tender offer represent...

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Source: Genetics and Environmental Business Week (2010-01-07)

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