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
Samsung Electronics Co. Ltd. launched Galaxy S8 flagship smartphones, its first new smartphone since the withdrawal of Galaxy Note 7. The Samsung Galaxy S8 and S8 Plus smartphones will go on sale on April 21. At a media event in New York on Wednesday, the company launched the two versions of the Galaxy S8, code-named Dream internally, with 6.2-inch and 5.8-inch curved screens. Consumers in Nigeria are calling for a boycott of Coca-Cola products sold in the African nation after a high court judge ruled that the products could be "poisonous". Justice Adedayo Oyebanji of the Lagos High Court ruled that high levels of benzoic acid and sunset additives in Coca-Cola's soft drinks could pose a health risk to consumers when mixed with ascorbic acid, commonly known as Vitamin C. Charles Murphy, a partner at New York hedge fund Paulson & Co., fell to his death after jumping out of a hotel window in Manhattan on Monday. Murphy was found dead on the fourth-floor terrace of the Sofitel New York Hotel after he jumped from a window on the 24th floor.
comments powered by Disqus
Follow RTT