Future Pak proposes acquisition of Vanda Pharmaceuticals for $7.25 to $7.75 per share in cash

Future Pak LLC has submitted a proposal to acquire all outstanding shares of common stock of Vanda Pharmaceuticals, Inc. for a cash consideration of $7.25 to $7.75 per share. The proposal implies a premium of 79.0% to 91.4% to Vanda's closing price as of April 16, 2024. Future Pak remains hopeful that the public disclosure of its interest will encourage shareholders to express their views on the proposal and on the Vanda Board’s responsibility to assess the highest and best price achievable for shareholders.