Stock delisted from NASDAQ - what to do?

Question

I became a shareholder of certain company, which was listed on NASDAQ exchange. However, this company has been recently aquired by another company and the original stock was delisted from NASDAQ.

Here are some recent press releses related to this: https://www.nasdaq.com/market-activity/stocks/flxn/press-releases

I totally missed the information that the stock will not be listed on exchange anymore and now I cannot sell my shares.

What should I do to get money for the shares? Will the new owner of the company buy my shares? How should I proceed?

Thanks for help.

Answer 1

The press release you link to has all the details:

Pacira will commence a tender offer to acquire all outstanding shares of Flexion for a purchase price of $8.50 per share in cash, plus one non-tradeable CVR. The CVR will entitle Flexion stockholders to up to an additional $8.00 per share in cash payable (subject to certain terms and conditions)

The transaction is anticipated to close during the fourth quarter of 2021, subject to customary closing conditions, including receipt of required regulatory approvals and the tender of a majority of the outstanding shares of Flexion’s common stock. Following the successful closing of the tender offer, Pacira will acquire any shares of Flexion that are not tendered in the tender offer through a second-step merger at the same consideration as paid in the tender offer.

As a registered shareholder of Flexion, you should have received, or will shortly receive, the tender offer, which will tell you how to proceed. If not, you can contact Pacira's shareholders relations office for advice.