Atlas Neon Parent, Inc. entered into a definitive Agreement to acquire an unknown majority stake in NGM Biopharmaceuticals, Inc. (NasdaqGS:NGM) for approximately $140 million on February 25, 2024. NGM Bio stockholders to receive $1.55 per share in cash, an 80% premium over the closing share price on the last trading day prior to disclosure of receipt from The Column Group of a non-binding expression of interest in purchasing shares in a going-private transaction. The price per share corresponds to a total equity value of $135 million on a fully diluted basis and represents an 80% premium over the last trading day closing price.

Based upon the recommendation of the Special Committee, with the assistance of its legal and financial advisors, the Board determined that the acquisition by Purchaser is in the best interests of the Unaffiliated Stockholders, and approved the Merger Agreement. Austin S. Pollet of Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal advisor to Atlas Neon Parent, Inc. and Keith Flaum of Hogan Lovells US LLP acted as legal advisor to NGM Biopharmaceuticals. Guggenheim Securities, LLC acted as financial advisor to NGM Bio.