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Synergy Pharmaceuticals Inc Announces Closing Of Merger With Callisto Pharmaceuticals, Inc-DJ

Thursday, 17 Jan 2013 04:05pm EST 

Dow Jones reported that Synergy Pharmaceuticals Inc announced that its previously announced merger with Callisto Pharmaceuticals, Inc. closed effective on January 17, 2013. Under the terms of the merger agreement, 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 approximately 22.3 million shares of Synergy held by Callisto were canceled. Consequently, effective as of the close of business on January 17, 2013, 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: January 17, 2015, a Change in Control of Synergy (as defined in the merger agreement), or written consent of Synergy, at Synergy's sole discretion, provided that such consent shall apply to all shares issued pursuant to the merger. 

Company Quote

0.12 +4.05%
24 Dec 2014