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

Editors Pick
US Steel Corp. (X) Tuesday said it will "adjust operations" and temporarily idle a part of its Minntac plant in Mt. Iron, Minnesota, effective June 1. According to reports, the move would see about 700 employees laid off. The company said the decision was due to its current inventory levels and ongoing... Hewlett-Packard Co. (HPQ) has filed a lawsuit against Michael Lynch, the co-founder of Autonomy Corp., and its former Financial Chief Sushovan Hussain for a whopping $5.1 billion alleging that the executives misrepresented the financial situation of Autonomy. An HP's spokeswoman confirmed that the... Nine acres of green grass with 400 trees and a half-mile-long walk way. We are not talking about any park, but the expansive rooftop of Facebook's new office. The 430,000 square feet office is a single room and it might be the largest open floor plan in the world.
comments powered by Disqus
Follow RTT