Brief: Alliqua Biomedical And Adynxx Announce Merger Agreement

Adynxx

12/10/2018 12:35

Oct 12 (Reuters) - Alliqua BioMedical Inc  ALQA.O :
    * ALLIQUA BIOMEDICAL INC. AND ADYNXX, INC. ANNOUNCE MERGER
AGREEMENT TO CREATE NASDAQ-LISTED CLINICAL-STAGE PHARMACEUTICAL
COMPANY WITH A FOCUS ON PAIN AND INFLAMMATION
    * ALLIQUA BIOMEDICAL INC - CURRENTLY EXPLORING ALTERNATIVES
FOR
OUR 16,500 SQUARE FOOT GMP CUSTOM HYDROGEL MANUFACTURING
FACILITY IN LANGHORNE, PA.
    * ALLIQUA BIOMEDICAL INC - MERGER IS STRUCTURED AS A
STOCK-FOR-STOCK TRANSACTION
    * ALLIQUA BIOMEDICAL INC - UPON CLOSING OF TRANSACTION,
ALLIQUA
WILL BE RENAMED ADYNXX, INC
    * ALLIQUA BIOMEDICAL INC - COMBINED COMPANY IS EXPECTED TO
TRADE
ON NASDAQ CAPITAL MARKET UNDER A NEW TICKER SYMBOL
    * ALLIQUA BIOMEDICAL INC - MERGER AGREEMENT HAS BEEN
UNANIMOUSLY
APPROVED BY BOARD OF DIRECTORS OF EACH COMPANY
    * ALLIQUA BIOMEDICAL INC - FORMER ADYNXX SECURITYHOLDERS ARE
EXPECTED TO OWN ABOUT 86% OF AGGREGATE NUMBER OF SHARES OF
ALLIQUA COMMON STOCK
    * ALLIQUA BIOMEDICAL - IMMEDIATELY AFTER MERGER FORMER
ADYNXX
SECURITYHOLDERS ARE EXPECTED TO OWN ABOUT 86% OF AGGREGATE
NUMBER OF SHARES OF ALLIQUA COMMON STOCK
    * ALLIQUA BIOMEDICAL - EXISTING STOCKHOLDERS OF ALLIQUA
EXPECTED
TO OWN ABOUT 14% AGGREGATE SHARES OF ALLIQUA COMMON STOCK
FOLLOWING DEAL CONSUMMATION
    * ALLIQUA BIOMEDICAL - PRIOR TO CLOSING, TO SEEK STOCKHOLDER
APPROVAL TO CONDUCT REVERSE SPLIT OF SHARES TO SATISFY NASDAQ
LISTING REQUIREMENTS

Source text for Eikon:  ID:nPn8bl1sJa 
Further company coverage:  ALQA.O 

 (Reuters.Briefs@thomsonreuters.com)