Echo Lake Capital made an offer to acquire Quince Therapeutics, Inc. (NasdaqGS:QNCX) for $58.8 million on March 21, 2023. Echo Lake acquire all the outstanding Common Stock of Quince Therapeutics for a price of $1.6 per share in cash. Echo Lake proposal is not contingent on outside financing and Echo Lake believe can complete customary diligence and negotiate definitive documentation within 30 days.

Echo Lake Capital cancelled the acquisition of Quince Therapeutics, Inc. (NasdaqGS:QNCX) on April 11, 2023. Board of Directors unanimously rejected the unsolicited proposal it received from Echo Lake Capital to acquire Quince for $1.60 per share in cash. Following careful review and evaluation, the Quince Board concluded that Echo Lake Capital’s proposal undervalues the company and is not in the best interest of Quince and its shareholders.