Aptevo Therapeutics (NASDAQ: APVO) holder Tang Capital disclosed:

On November 18, 2020, the Reporting Persons submitted a bid letter to the Board of Directors of the Issuer offering to acquire the remaining common stock of the Issuer that Tang Capital Partners, LP does not already own for a price of $50.00 per share in cash. A copy of the bid letter is attached as Exhibit 2 and incorporated by reference in this Item 4 in its entirety.

November 18, 2020

Board of Directors
Aptevo Therapeutics Inc.
2401 4th Avenue, Suite 1050
Seattle, Washington 98121

Dear Members of the Board:

On behalf of Tang Capital Partners, LP (“TCP”), we are pleased to submit a proposal to acquire the remaining common stock of Aptevo Therapeutics Inc. (“Aptevo”) that TCP does not already own for a price of $50.00 per share in cash.

Our proposal is based on 4.8 million total shares outstanding, assuming the exercise of all remaining warrants from the March 2019 public offering, and is subject to confirmatory due diligence that would be conducted pursuant to a customary non-disclosure agreement. Additionally, closing of the acquisition would be conditioned upon the Aptevo board waiving the application of the Stockholder Rights Plan and approval in accordance with Section 203 of the Delaware General Corporation Law. We expect that the definitive merger agreement would not contain any financing conditions.

We are excited about Aptevo’s prospects and look forward to working more closely with the Company.

Sincerely,

Kevin Tang