Stocks to Watch: Great Ajax, Akumin, BioMarin Pharmaceutical

Dow Jones

Oct 21, 2023

By Ben Glickman

Great Ajax Corp. said it wouldn't be acquired by Ellington Financial after the two real-estate investment trusts agreed to terminate a previously announced combination. Ellington will pay Great Ajax $5 million in cash and acquire 1.67 million shares of common stock for $6.60 a share in connection with the canceled deal. Shares of Great Ajax sink 17% to $5.29 after-hours.

Akumin said it had reached a deal with private-equity firm Stonepeak to go private, under which Stonepeak would convert its $470 million note to Akumin shares and invest $130 million in the company. The companies said shareholders of Akumin would receive $25 million in cash and some contingent value rights. Shares rise 58% to 23 cents after-hours.

BioMarin Pharmaceutical received approval from the Food and Drug Administration for its Voxzogo treatment in all pediatric age groups. The treatment, which was previously indicated for patients five or older in the U.S., addresses achondroplasia, a growth condition.

Write to Ben Glickman at ben.glickman@wsj.com

(END) Dow Jones Newswires

October 20, 2023 19:19 ET (23:19 GMT)

Copyright (c) 2023 Dow Jones & Company, Inc.

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Ellington will pay Great Ajax $5 million in cash and acquire 1.67 million shares of common stock for $6.60 a share in connection with the canceled deal. Shares of Great Ajax sink 17% to $5.29 after-hours. \n\n\n  Akumin said it had reached a deal with private-equity firm Stonepeak to go private, under which Stonepeak would convert its $470 million note to Akumin shares and invest $130 million in the company. The companies said shareholders of Akumin would receive $25 million in cash and some contingent value rights. Shares rise 58% to 23 cents after-hours. \n\n\n  BioMarin Pharmaceutical received approval from the Food and Drug Administration for its Voxzogo treatment in all pediatric age groups. 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