Monster Digital, Inc. Provides Update Regarding Anticipated Closing Date for Merger with Innovate Biopharmaceuticals, Inc.
MONSTER DIGITAL (MSDI)
US:NASDAQ Investor Relations:
globenewswire.com/news-release/2018/01/29/1313343/0/en/monster-digital-and-innovate-biopharmaceuticals-extend-outside-closing-date-for-merger.html
Company Research
Source: Marketwire
SIMI VALLEY, CA -- (Marketwired) -- 11/29/17 -- Monster Digital, Inc. (NASDAQ: MSDI) ("Monster Digital" or the "Company") announced today that the Company and Innovate Biopharmaceuticals, Inc. ("Innovate") have agreed to work towards the closing (the "Closing") of the proposed reverse merger ("Merger") between Monster Digital and Innovate on or before December 19, 2017. As previously disclosed, following the Closing, Innovate will become a wholly owned subsidiary of Monster Digital, and Monster Digital, as the surviving company, will be renamed "Innovate Biopharmaceuticals, Inc." Innovate stockholders will own the substantial majority of shares of the combined company after the transaction. The common stock shares of the combined company will continue to trade on the NASDAQ Capital Market under the symbol INNT. As previously disclosed, immediately prior to the effective date of the Merger, there will be a spin-off transaction (the "Spin-Off"). Previously, all of the bus
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