Summary
Guardant Health, Inc. announced the completion of the Share Purchase, acquiring all shares held by SoftBank in their AMEA Joint Venture for approximately $177.8 million. This transaction, finalized on June 10, 2022, was based on an independent third-party valuation and fulfills the company's exercise of its call right from the original Joint Venture Agreement dated May 9, 2017. The termination of the JV Agreement and the resignation of SoftBank's board nominees are effective as of the closing date. This move consolidates Guardant Health's ownership and control over the AMEA Joint Venture.
Key Highlights
- 1Guardant Health acquired SoftBank's stake in the AMEA Joint Venture for $177.8 million.
- 2The acquisition was completed on June 10, 2022.
- 3The purchase price was determined by an independent third-party valuation.
- 4Guardant Health exercised its call right under the May 2017 Joint Venture Agreement.
- 5The Joint Venture Agreement has been terminated.
- 6SoftBank's board nominees have resigned from the AMEA Joint Venture board.
- 7This transaction consolidates full ownership of the AMEA Joint Venture under Guardant Health.
Frequently Asked Questions
This filing primarily announces the completion of Guardant Health's purchase of SoftBank's shares in their AMEA Joint Venture, effectively consolidating full ownership of the venture under Guardant Health and terminating the associated Joint Venture Agreement.
Guardant Health paid an aggregate purchase price of $177,785,000 for all of SoftBank's shares in the AMEA Joint Venture.
The purchase price was determined based on an independent third-party valuation, indicating an objective assessment of the AMEA Joint Venture's worth.
Terminating the JV Agreement signifies the end of the partnership with SoftBank for the AMEA Joint Venture. Guardant Health now has full control and ownership, which could lead to strategic realignments or operational efficiencies as they integrate the venture entirely.