Apricus Biosciences to merge with Seelos Therapeutics; shares up 6% premarket [Seeking Alpha]
APRICUS BIOSCIENCES (APRI)
Last apricus biosciences earnings: 11/2 04:01 pm
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US:NASDAQ Investor Relations:
apricusbio.com
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Source: Seeking Alpha
Apricus Biosciences to merge with Seelos Therapeutics; shares up 6% premarketApricus Biosciences (NASDAQ:APRI) is up6% onsigning merger agreement with Seelos Therapeutics. Over 95% of the votes cast were in favor of the merger with Seelos and over 85% were in favor of the reverse stock split.Under the terms of agreement, the holders of Seelos’ outstanding capital stock will receive common shares of Apricus upon closing of merger.Seelos and Apricus stockholders are expected to own ~85% and ~15%, respectively of the merged company.Upon closing, current Apricus stockholders will receive one Contingent Value Right (CVR) per share of Apricus common stock owned.The proposed merger is expected to close in January 2019.See all stocks on the move »Now read:Dynavax Projects HEPLISAV-B Inflection In 2019, While CEO Eddie Gray Continues To Search For SD-101 Partners »Subscribefor full text news in your inbox
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