Great Ajax Corp. announced that it will not be acquired by Ellington Financial as the two real-estate investment trusts have agreed to terminate their previously announced combination. As a result of the canceled deal, Ellington will pay Great Ajax $5 million in cash and acquire 1.67 million shares of common stock for $6.60 per share. Following this news, shares of Great Ajax experienced a significant decline of 17%, falling to $5.29 after-hours.
Akumin to Go Private with Stonepeak Investment
Akumin has reached a deal with private-equity firm Stonepeak to go private. Under this agreement, Stonepeak will convert its $470 million note to Akumin shares and invest an additional $130 million in the company. Shareholders of Akumin will receive $25 million in cash along with some contingent value rights. As a result, shares of Akumin surged by 58% to reach 23 cents after-hours.
BioMarin Pharmaceutical Secures FDA Approval for Voxzogo Treatment
BioMarin Pharmaceutical has received approval from the Food and Drug Administration (FDA) for its Voxzogo treatment in all pediatric age groups. Previously indicated for patients five years and older in the U.S., Voxzogo now has expanded its reach to pediatric patients of all ages, specifically addressing achondroplasia, a growth condition.