Theravance $THRX completes spinoff of Theravance Biopharma $TBPH

On June 1, 2014, Theravance Biopharma, Inc. (“Theravance Biopharma” or “we”) entered into a separation and distribution agreement with Theravance, Inc. (“Theravance”) (the “Separation Agreement”) pursuant to which Theravance transferred its research and development operations to Theravance Biopharma and agreed to distribute 100% of the outstanding shares of Theravance Biopharma to Theravance’s stockholders (the “Spin-Off”).  The Spin-Off occurred on June 2, 2014, the payment date for the dividend of 32,260,105 ordinary shares of Theravance Biopharma to Theravance’s stockholders. As a result of the Spin-Off, Theravance Biopharma is now an independent public company trading under the symbol “TBPH” on the Nasdaq Global Market. Source: Filing