Lisata Therapeutics shares up 20% as Kuva Labs acquisition advances

Group 1 - Lisata Therapeutics has agreed to be acquired by Kuva Labs, a privately held company, with a tender offer of $5 per share in cash plus one contingent value right (CVR) per share [2][3] - Lisata's shares surged nearly 20% following the announcement, closing at $4.18 before the news [4] - The CVR could provide an additional cash payment of $1 per share if a New Drug Application for a product containing certepetide is submitted or accepted by regulatory authorities within seven years [4][5] Group 2 - The acquisition is subject to customary closing conditions, including the tender of a majority of Lisata's outstanding shares, and does not include a financing condition [5] - The transaction is expected to close in the second quarter of 2026, with plans for Kuva to acquire any remaining untendered shares through a second-step merger [6] - Lisata will be delisted from the Nasdaq Capital Market following the completion of the transaction, which was unanimously approved by its board after a strategic review [7][8]