Arigene Co., Ltd., a Korean corporation traded on the Korean Securities Dealers Association Quotation System (“Arigene”) (KOSDAQ: 067850), through its wholly-owned subsidiary, RTM Acquisition Company, a Delaware corporation, today commenced a cash tender offer to purchase all outstanding shares of common stock of Trimeris, Inc., a Delaware corporation (“Trimeris”) (NASDAQ: TRMS), pursuant to the Agreement and Plan of Merger among Arigene, RTM Acquisition Company and Trimeris, executed and publicly announced on October 2, 2009.
Upon the successful closing of the tender offer, stockholders of Trimeris will receive $3.60 in cash, without interest and less any required withholding taxes, for each share of Trimeris common stock tendered in the offer.
Following the tender offer, if successful, RTM Acquisition Company will be merged with and into Trimeris, with Trimeris continuing as the surviving corporation. As a result of the merger, Trimeris will become a wholly-owned subsidiary of Arigene. Acquisition of Trimeris would represent Arigene’s first step towards the launch of a research and development center in Korea to act as a facilitator to private ventures, governments and educational institutions within the biotechnology industry.