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Pernix Therapeutics Holdings Inc Completes Acquisition of Somaxon Pharmaceuticals Inc

Wednesday, 6 Mar 2013 04:55pm EST 

Pernix Therapeutics Holdings Inc announced the completion of its acquisition of Somaxon Pharmaceuticals Inc (Somaxon) following the approval of the transaction by stockholders of Somaxon at the special meeting held on March 6, 2013. Under the terms of the agreement announced on December 11, 2012, Pernix acquired all of the common stock of Somaxon in a stock-for-stock transaction with a total value of $25 million. Somaxon stockholders will receive approximately 3,665,689 shares of Pernix common stock based on a per share price of Pernix`s common stock of $6.82, the volume-weighted average price of Pernix`s common stock over the 30-day period ending on the day immediately prior to closing. Stifel Nicolaus Weisel acted as financial advisor to Somaxon in the transaction. 

Company Quote

-0.04 -0.41%
19 Dec 2014