BRODSKY & SMITH SHAREHOLDER UPDATE: Notifying Investors of the Following Investigations: Alimera Sciences, Inc. (Nasdaq - ALIM), Avangrid, Inc. (NYSE - AGR), SilverBow Resources, Inc. (NYSE - SBOW), Reneo Pharmaceuticals, Inc. (Nasdaq - RPHM)

BALA CYNWYD, Pa., June 25, 2024 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky (jbrodsky@brodskysmith.com) or Marc Ackerman (mackerman@brodskysmith.com) at 855-576-4847. There is no cost or financial obligation to you.

SilverBow Resources, Inc. (NYSE - SBOW)

Under the terms of the agreement, SilverBow will be acquired by Crescent Energy Company (“Crescent”) (NYSE - CRGY) in a transaction valued at $2.1 billion. SilverBow shareholders will receive 3.125 shares of Crescent Class A common stock for each share of SilverBow common stock, with the option to elect to receive all or a portion of the proceeds in cash at a value of $38 per share, subject to possible pro ration with a maximum total cash consideration for the transaction of $400 million. The investigation concerns whether the SilverBow Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s shareholders. For example, the deal consideration is below the 52-week high of $43.95 for the Company’s shares.

Additional information can be found at https://www.brodskysmith.com/cases/silverbow-resources-inc-nyse-sbow/.

Avangrid, Inc. (NYSE - AGR)

Under the terms of the agreement, Avangrid will be acquired by its majority shareholder, Iberdrola, S.A. (“Iberdrola”). Iberdrola will acquire the remaining 18.4% of the issued and outstanding shares of common stock of Avangrid that it does not currently own for $35.75 per share in an all-cash transaction. The investigation concerns whether the Avangrid Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether the deal consideration offers fair value to the Company’s minority shareholders.

Additional information can be found at https://www.brodskysmith.com/cases/avangrid-inc-nyse-agr/ .

Reneo Pharmaceuticals, Inc. (Nasdaq - RPHM)

Under the terms of the agreement, Reneo will merge with OnKure, Inc. Pre-merger Reneo stockholders are expected to own approximately 31% of the combined company, and pre-merger OnKure stockholders are expected to own approximately 69% of the combined company. The investigation concerns whether the Reneo Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution to Company shareholders in the combined company.

Additional information can be found at https://www.brodskysmith.com/cases/reneo-pharmaceuticals-inc-nasdaq-rphm/.

Alimera Sciences, Inc. (Nasdaq - ALIM)

Under the terms of the agreement, Alimera will be acquired by ANI Pharmaceuticals, Inc. (“ANI”) (Nasdaq - ANIP) for $5.50 per share in cash at closing and one non-tradable contingent value right (CVR) representing the right to receive up to $0.50 per share upon the achievement of certain net revenue targets in 2026 and 2027. The investigation concerns whether Alimera Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including whether ANI is paying fair value to shareholders of the Company. For example, the up-front deal consideration is below the 52-week high of $5.65 for the Company’s shares.

Additional information can be found at https://www.brodskysmith.com/cases/alimera-sciences-inc-nasdaq-alim/.

Brodsky & Smith is a litigation law firm with extensive expertise representing shareholders throughout the nation in securities and class action lawsuits. The attorneys at Brodsky & Smith have been appointed by numerous courts throughout the country to serve as lead counsel in class actions and have successfully recovered millions of dollars for our clients and shareholders. Attorney advertising. Prior results do not guarantee a similar outcome.