RE:RE:RE:RE:Top Line Tigris Results by April 30, 2025 ?So I glanced thru the Carlyle/Baxter purchase agreement for Vantive, to try and get some color on when their deal might close. Looks like February 12th is when the Termination Fee of $180mm USD comes into play. Knowing this I figure December is the month Carlyle Group would prefer for the Vantive deal to close. They could maybe push it to very early January, but that gets risky because they would want at least 30 days cushion before they bump up against that hard date of February 12th.
So if CG wants a deal in place for Spectral, prior to fully committing $3.8B for Vantive, then they would probably want to begin negotiations and reach an agreement with Spectral in November. If they do this, both the deal for Vantive and Spectral will be locked in, which means CG will have zero risk of a second bidder coming in and ruining their plan.
The reason I bring this up is because the Vantive timeline, might be a bigger factor than the Tigris enrollment timeline, for when Carlyle pulls the trigger on Spectral. By November, Tigris should be well into the 140's and that means that the results of the final few patients will have virtually no effect on the overall mortality numbers.
If any of you Spectral nerds want to see the CG/Baxter agreement here's the SEC link, click exhibit 2.1 on the last page.
https://www.sec.gov/ix?doc=/Archives/edgar/data/10456/000119312524199409/d878887d8k.htm