Key Developments For EDEN Bioscience Corporation
EDEN Bioscience Corporation Announces Delisting From NASDAQ-Stock Exchange
The Stock Exchange reported that EDEN Bioscience Corporation has been delisted from NASDAQ.
EDEN Bioscience Corporation Announces Board of Directors' Approval Of Plan Of Dissolution And Liquidation
EDEN Bioscience Corporation announced that its Board of Directors determined, in its best business judgment after consideration of available strategic options, that it is in the best interests of the Company and its shareholders to liquidate the Company's assets and to dissolve the Company. The Company's Board of Directors approved a plan of dissolution and liquidation of the Company (the Plan), subject to shareholder approval. The Plan contemplates an orderly wind down of the Company's business and operations. If the Company's shareholders approve the Plan, the Company intends to file articles of dissolution, sell or otherwise dispose of its non cash assets, satisfy or settle its remaining liabilities and obligations, including contingent liabilities and claims, and make one or more distributions to its shareholders of cash available for distribution, subject to applicable legal requirements. Following shareholder approval of the Plan and the filing of articles of dissolution, the Company would delist its common stock from NASDAQ.
EDEN Bioscience Corporation Names Nathaniel Brown As Chief Financial Officer-DJ
Dow Jones reported that EDEN Bioscience Corporation said that it has appointed Nathaniel T. Buster Brown as its President and Chief Executive Officer, Chief Financial Officer and Secretary, effective as of October 1. EDEN Bioscience Corporation will fill the principal executive and principal financial and accounting officer positions at the Company and will be succeeding Bradley S. Powell, whose resignation from those positions previously was announced.
EDEN Bioscience Corporation Announces Resignation of Bradley S. Powell As President and Chief Financial Officer
EDEN Bioscience Corporation announced that President and Chief Financial Officer Bradley S. Powell will resign from the Company effective as of September 30, 2008, to pursue another career opportunity.
EDEN Bioscience Corporation Completes Sale of Harpin Protein Technology Assets
Eden Bioscience Corporation announced that it has completed the sale of its harpin protein technology and substantially all of the assets related to its agricultural and horticultural markets to Plant Health Care, Inc., a subsidiary of Plant Health Care plc. The assets were sold for an adjusted purchase price of $2.2 million, $1.5 million of which was paid at closing and the remaining $0.7 million of which is evidenced by a promissory note payable on December 28, 2007. The promissory note has an interest rate of 5% per annum and is secured by a first priority security interest in the equipmentand certain intellectual property and other assets acquired by Plant HealthCare.
