Lilly Announces Final Results of Elanco Exchange Offer
Because the exchange offer was oversubscribed, Lilly accepted only a portion of the shares of its common stock that were validly tendered and not validly withdrawn, on a pro rata basis in proportion to the number of shares tendered. Shareholders who owned fewer than 100 shares of Lilly common stock, or an "odd-lot," who validly tendered all of their shares, were not subject to proration, in accordance with the terms of the exchange offer. The final proration factor of 13.5970839 percent was applied to all other shares of Lilly common stock that were validly tendered and not validly withdrawn to determine the number of such shares that have been accepted from each tendering shareholder.
"We're pleased with the results of the exchange offer, and proud of what we accomplished with Elanco in our 64 years together. We wish Elanco and its employees continued success as they move into the future," said
Based on the final count by the exchange agent,
- Total number of shares of Lilly common stock validly tendered and not validly withdrawn: 467,055,775
- Shares tendered that were subject to proration: 465,325,822
- "Odd-lot" shares tendered that were not subject to proration: 1,729,953
- Total number of shares of Lilly common stock accepted: 65,000,775
Shares of Lilly common stock tendered but not accepted for exchange will be returned to the tendering shareholders in book-entry form promptly. In addition, the exchange agent will promptly credit shares of Elanco common stock for distribution in the exchange offer in book-entry form to accounts maintained by the Elanco transfer agent for tendering shareholders whose shares of Lilly common stock were accepted in the exchange offer. Checks in lieu of fractional shares of Elanco common stock will be delivered after the exchange agent has aggregated all fractional shares and sold them in the open market.
Lilly is a global healthcare leader that unites caring with discovery to create medicines that make life better for people around the world. We were founded more than a century ago by a man committed to creating high quality medicines that meet real needs, and today we remain true to that mission in all our work. Across the globe, Lilly employees work to discover and bring life-changing medicines to those who need them, improve the understanding and management of disease, and give back to communities through philanthropy and volunteerism. C-LLY
Established in 1954, Elanco provides comprehensive products and knowledge services to improve animal health and food-animal production in more than 70 countries around the world. Elanco supports the beef, dairy, poultry, swine and aquaculture industries, and offers a robust product portfolio for companion animals.
This press release does not constitute an offer of any securities for sale.
Cautionary Statement Regarding Forward-Looking Statements
This communication contains certain statements about
Because forward-looking statements relate to the future, by their nature, they are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and are detailed more fully in Lilly's and Elanco's respective periodic reports filed from time to time with the
Additional Information and Where to Find It:
Elanco has filed with the
Holders of Lilly common stock may obtain copies of the prospectus, other related documents, and any other information that Lilly and Elanco file electronically with the
Lilly has retained
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