logo
Share SHARE
FONT-SIZE Plus   Neg

Synergy Pharma Closes Merger With Callisto

Synergy Pharmaceuticals Inc. (SGYP) said Thursday that it has closed its previously announced merger with Callisto Pharmaceuticals Inc.

As per the terms of the merger, as amended, each outstanding share of Callisto common stock was converted into the right to receive 0.1799 of one share of Synergy common stock and the about 22.3 million shares of Synergy held by Callisto were canceled.

Consequently, effective as of the close of business today, Callisto's common stock will no longer be traded on the OTC QB.

Each share of Synergy common stock received in connection with the merger will be subject to a lock-up beginning January 17, 2013 and ending on the earlier of (i) January 17, 2015, (ii) a change in control of Synergy (as defined in the merger agreement), or (iii) written consent of Synergy, at Synergy's sole discretion.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Dairy giant Saputo Inc. is voluntarily recalling certain Gouda cheese products in the U.S. due to potential listeria contamination. Saputo said one of its suppliers, Deutsch Kase Haus, LLC of Middlebury, Indiana, notified the company that some specialty Gouda cheese products that it supplied to Saputo's Green Bay, Wisconsin facility may have been contaminated with Listeria monocytogenes. Amazon is exploring the possibility of using parachutes to drop drone-delivered packages. The e-commerce giant has been granted a patent titled, "Maneuvering a package following in-flight release from an unmanned aerial vehicle". U.S. food maker Kraft Heinz Co. (KHC) Friday confirmed that it has made a comprehensive proposal to Anglo-Dutch consumer goods company Unilever Plc or Unilever NV. The cash and stock offer values $143 billion. Further, Kraft Heinz noted that Unilever has declined the proposal, however it go ahead...
comments powered by Disqus
Follow RTT