The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Tag Archives: Plan of Arrangement

Monday Deal Review: July 12, 2009

B&W_BigNickelThe highlights of this week were definitely the Bioniche-Endo deal and Allostera’s $17 million raise, but that was just the tip of the iceberg as Canadian deal activity heated up along with the weather.  A novel deal with an income trust swapping cash for a biotech’s public shell starts things off after the jump…

Monday Deal Review: April 6, 2009

One complex arrangement, two clinical trial updates, three commercial deals and other bits of Canadian deal and company miscellany after the jump…

Canadian M&A: Akela Pharma and Nventa to Merge, Akela Shareholders to Own 70%

Akela Pharma Inc. (TSX: AKL) and Nventa Biopharmaceuticals (TSX: NVN) will merge by exchanging 0.0355 Akela shares for each Nventa share, resulting in an approximate 70/30 ownership split between Akela and Nventa shareholders, respectively, in the combined entity. The public company will retain Akela’s name, management, and ticker symbol (AKL).  The arrangement arrangement was unanimously approved by both Boards.  Conditions: approvals from Nventa shareholders, the British Columbia Supreme Court and the Toronto Stock Exchange, and a minimum amount of $1.5M of net cash in Nventa.  Current (post-announcement)  Akela market cap: $3.46 million.

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