BLUE Overview

New Management and Investment: bluebird bio has completed its sale to Carlyle and SK Capital, with new CEO David Meek leading a management team focused on scaling access to gene therapies for severe genetic diseases through significant capital investment.

Operational Focus: The company aims to expand manufacturing capacity, enhance patient treatment experiences, and strengthen partnerships with treatment centers and payers to ensure broader access to its groundbreaking therapies.

Acquisition Details: The Carlyle Group and SK Capital Partners, alongside Beacon Parent Holdings, have completed a tender offer to acquire bluebird bio, Inc. for $3.00 per share plus a contingent value right or $5.00 in cash, with the merger expected to finalize on June 2, 2025.

Company Challenges and Regulatory Approval: Bluebird bio faced significant financial challenges, including a high debt-to-capital ratio and low current ratio, but secured necessary regulatory approvals from the EU, China, and Turkey for the acquisition, which will proceed without a stockholder vote.

Deal Closure Date: Carlyle, SK Capital Partners, and Beacon Parent Holdings are set to finalize their acquisition of bluebird bio on June 2.

Shareholder Options: Bluebird bio shareholders can choose between receiving $3 per share in cash plus a contingent value right or $5 per share in cash without the CVR.

Acquisition Details: Carlyle, SK Capital, and Beacon Parent Holdings have successfully completed the tender offer to acquire bluebird bio, with the acquisition expected to finalize on June 2, 2025, after 59.8% of shares were validly tendered.

Company Background: bluebird bio is a leader in gene therapy focused on severe genetic diseases, having secured FDA approvals for three therapies and aiming to deliver innovative solutions while maintaining a commitment to patient communities.

Acquisition Announcement: Carlyle Group, SK Capital Partners, and Beacon Parent Holdings confirmed that their acquisition of bluebird bio will finalize on June 2 after meeting all tender offer conditions.

Tender Offer Details: The tender offer, which ran from March 7 to May 29, resulted in approximately 59.8% of bluebird's outstanding shares being validly tendered, with the acquisition structured as a merger without a stockholder vote.

Tender Offer Reminder: bluebird bio, Inc. urges stockholders to tender their shares in the ongoing offer by Carlyle and SK Capital before the deadline of May 29, 2025, emphasizing the importance of re-tendering shares due to an amended agreement that offers different cash options.

Acquisition Update: Ayrmid Ltd. will not pursue a binding proposal for bluebird, reinforcing the Board's recommendation for stockholders to accept the current transaction with Carlyle and SK Capital, which is viewed as the only viable option to avoid significant financial risks.