PRVL - Prevail Therapeutics rockets 85% on being acquired by Lilly for ~$1.04B

Eli Lilly (LLY) inks agreement to acquire Prevail Therapeutics (PRVL) for $22.50/share in cash (or an aggregate of ~$880M) payable at closing plus one non-tradable contingent value right ((CVR)) worth up to $4.00/share in cash (~$160M), for a total consideration of up to $26.50/share in cash, for ~$1.04B.The CVR is payable upon the first regulatory approval of a product from Prevail's pipeline in U.S., Japan, U.K., Germany, France, Italy or Spain. To achieve the full value of the CVR, such regulatory approval must occur by December 31, 2024.The transaction is expected to close in Q1 2021.See below Prevail's pipeline overview:PRVL shares rise 85% premarket.

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Prevail Therapeutics rockets 85% on being acquired by Lilly for ~$1.04B