Essa Shares Plummet as Merger Terms Are Slashed

Investors in Essa have reacted harshly to a severe downgrade in the proposed terms for its business combination with XenoTherapeutics. The announcement has triggered a significant sell-off, eroding shareholder confidence and driving the stock price sharply lower.

The negative sentiment was immediately reflected in the market. Essa’s stock tumbled nearly 9.69% over the past 24-hour period, bringing its weekly loss to approximately 7.26%. The most dramatic move occurred in pre-market trading following the news, where shares plummeted by 17%, indicating a decisive punitive response from the investment community.

Drastic Reduction in Shareholder Payouts

The core issue lies in the radically altered conditions of the merger. Shareholders are now set to receive a cash dividend of just $0.12 per share,... Read more...