12:36 PM EST, 01/21/2025 (MT Newswires) -- Revance Therapeutics' ( RVNC ) board has approved and recommended a revised buyout offer of $3.65 per share in cash, an increase of $0.55, from privately held Crown Laboratories, the companies said Tuesday.

Under their amended and restated merger agreement, which was further amended Friday, Crown also agreed to extend its tender offer for all of Revance's outstanding shares until Feb. 4, according to a joint statement.

As of Friday, about 6.3 million shares, or roughly 6% of outstanding shares, have been validly tendered, the companies said, citing Computershare Trust, depositary for the tender offer.

The companies expect to close their transaction by Feb. 6, they said.

Revance shares were down about 1% in midday trade on Tuesday.

Price: 3.65, Change: -0.04, Percent Change: -0.95