Brief: Eyegate Pharma Announces Transformative Acquisition Of Panoptes Pharma

Kiora Pharmaceuticals

21/12/2020 11:57

Dec 21 (Reuters) - EyeGate Pharmaceuticals Inc  EYEG.O :
    * EYEGATE PHARMA ANNOUNCES TRANSFORMATIVE ACQUISITION OF
PANOPTES
PHARMA
    * EYEGATE PHARMACEUTICALS - UNDER TERMS OF AGREEMENT,
PANOPTES
WILL BECOME A WHOLLY OWNED SUBSIDIARY OF EYEGATE
    * EYEGATE PHARMACEUTICALS INC - CONSIDERATION IS $4 MILLION
AT
CLOSE CONSISTING OF COMMON STOCK, PREFERRED STOCK AND CASH
    * EYEGATE PHARMACEUTICALS INC - ADDITIONALLY, $1.5 MILLION
IN
CONSIDERATION IS HELD BACK, WILL BE ISSUED IN PREFERRED STOCK
AFTER A PERIOD OF 18 MONTHS
    * EYEGATE PHARMACEUTICALS - DEAL ALSO INCLUDES TWO CASH OR
SHARE
EARN-OUT PROVISIONS, EACH CALLING FOR AN ADDITIONAL PAYMENT OF
UP TO $4.8 MILLION

Source text for Eikon:  ID:nGNX4cqzRQ 
Further company coverage:  EYEG.O 

 ((Reuters.Briefs@thomsonreuters.com;))