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Provider: Reuters Investment Profile
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Provider: Wright Reports
$75.00
Provider: Wright Reports
$75.00

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AccelPath Inc and Energy Innovative Products provide merger update


Monday, 14 Apr 2014 07:00am EDT 

AccelPath Inc and Energy Innovative Products Inc:Provided additional information regarding the status of their previously announced merger transaction.AccelPath and EIP have entered into an agreement and plan of reorganization dated as of Oct. 24, which will result in EIP becoming a subsidiary of AccelPath.It is expected that the equity holders of EIP will become the holders of about 76 pct of the total outstanding capital stock, on a fully diluted basis, upon completion of the transaction.The transaction is expected to be treated as a reverse merger.Management of EIP will become management of AccelPath upon completion of the transaction.A majority of the board of directors of the post-merger company will be represented by persons associated with EIP.The parties anticipate the transaction will be completed within approximately the next 45 days. 

Company Quote

1.0E-4
1.0E-4 +9,900.00%
26 Dec 2014