Brief: Alliqua Biomedical To Spin Off & Merge Its Contract Manufacturing Business To Pharmaceuticals Llc

Adynxx

28/11/2018 13:07

Nov 28 (Reuters) - Alliqua BioMedical Inc  ALQA.O :
    * ALLIQUA BIOMEDICAL TO SPIN OFF AND MERGE ITS CONTRACT
MANUFACTURING BUSINESS WITH TO PHARMACEUTICALS LLC TO CREATE AN
INDEPENDENT, PUBLICLY TRADED COMPANY FOCUSED ON
CANNABINOID-BASED PHARMACEUTICAL THERAPIES
    * ALLIQUA BIOMEDICAL INC - FORMER SHAREHOLDERS WILL RETAIN A
MINORITY STAKE WITH FORMER MEMBERS OF TOP HOLDING A MAJORITY
INTEREST IN TO PHARMA
    * ALLIQUA BIOMEDICAL INC - UPON CLOSING, AQUAMED WILL BE
RENAMED
TO PHARMA AND WILL BE HEADQUARTERED IN LANGHORNE, PENNSYLVANIA
    * ALLIQUA BIOMEDICAL INC - TO PHARMA INTENDS TO APPLY TO
LIST ITS
SHARES OF COMMON STOCK ON NASDAQ STOCK MARKET
    * ALLIQUA BIOMEDICAL INC - MERGER WILL BE STRUCTURED AS AN
EQUITY
EXCHANGE
    * ALLIQUA BIOMEDICAL INC - WILL DISTRIBUTE SHARES OF COMMON
STOCK
OF AQUAMED ON A PRO RATA BASIS TO RECORD HOLDERS OF ALLIQUA
    * ALLIQUA BIOMEDICAL INC - MERGER WILL BE STRUCTURED AS AN
EQUITY
EXCHANGE
    * ALLIQUA BIOMEDICAL  - TOP'S SETH YAKATAN EXPECTED TO SERVE
AS
CEO AND ALLIQUA'S DAVID JOHNSON TO SERVE AS CHAIRMAN OF BOARD OF
COMBINED CO
    * ALLIQUA BIOMEDICAL INC - TRANSACTION HAS BEEN APPROVED BY
BOARDS
OF BOTH ALLIQUA AND TOP
    * ALLIQUA BIOMEDICAL INC -UNIT AQUAMED TECHNOLOGIES, INC. TO
MERGE
WITH TOP TO CREATE  A NEW LISTED CO

Source text for Eikon:  ID:nGNX6MZVLP 
Further company coverage:  ALQA.O 

 (Reuters.Briefs@thomsonreuters.com)