BISON CAPITAL ACQUISITION CORP. ANNOUNCES CLOSING OF ITS BUSINESS COMBINATION WITH XYNOMIC PHARMACEUTICALS, INC.
(XYN)
Company Research
Source: GlobeNewswire
New York, NY, May 15, 2019 (GLOBE NEWSWIRE) -- Bison Capital Acquisition Corp. (NASDAQ: BCAC) (“BCAC” or the “Company”) today announced that it has closed its business combination with Xynomic Pharmaceuticals, Inc. (“Xynomic”), a Delaware corporation, pursuant to which Xynomic became a wholly-owned subsidiary of BCAC. The transaction was approved at a special meeting of BCAC’s shareholders held on May 14, 2019. In connection with the business combination, BCAC issued 42,860,772 newly-issued shares of common stock to Xynomic’s shareholders, of which 1,285,822 shares were deposited in an escrow account and subject to forfeiture for indemnification claims. As part of the transaction, BCAC filed appropriate paperwork to change its name to Xynomic Pharmaceuticals Holdings, Inc. (“Xynomic Holding”); the name change took effect following the closing. The Company’s units and rights shall cease trading as of May 15, 2019, and the Company expects that its shares of common stock and warrant
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