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Post by bradleysbest on Jan 18, 2017 20:43:42 GMT -5
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Post by mnkdfann on Jan 18, 2017 23:00:23 GMT -5
I was going to write a sarcastic post like, hey, thanks for the breaking news!  But then I read the article and it woke me up to the fact that this is not actually a done deal yet. "A spokesperson for Rexford said the company would have no comment on the transaction until it closes. According to MannKind’s SEC filing, the deal will close within three business days after a 25-day period that started when Rexford received specified documents that were due by last Friday." And from the 8-K: "The Purchase Agreement contains customary conditions to closing, including, among other things, Rexford’s approval of title conditions, physical inspections and studies, and the Materials. In addition, if, prior to the last day of the aforementioned 25-day period, Rexford determines that it is dissatisfied, in Rexford’s sole and absolute discretion, with any aspects of the Property and/or its condition or suitability for Rexford’s intended use, or with any of the Materials, then Rexford may terminate the Purchase Agreement and the escrow created pursuant thereto, and upon termination, Rexford would be refunded its deposit." So Rexford can still back out. I realize the above is pretty standard stuff that goes with any real estate transaction, I had just assumed the deal was long past that point and that it was already finalized. |
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