ADXS Ayala 62.5% vs. ADX Randall 63%-Ayala 62.5%
Subject to the terms and conditions of the merger agreement, at the closing of the merger, each outstanding share of Ayala common stock will be converted into the right to receive shares of common stock of Advaxis based on the exchange ratio set forth in the merger agreement. Upon completion of the merger, Ayala stockholders will own approximately 62.5% of the combined company’s outstanding common stock and Advaxis stockholders will own approximately 37.5%, subject to the terms of the merger agreement. Advaxis will, at the effective time of the merger, assume the outstanding restricted stock units and stock options of Ayala, subject to the terms of the merger agreement. No fractional shares will be issued in connection with the merger and Advaxis will pay cash in lieu of any such fractional shares. The merger is intended to qualify for U.S. federal income tax purposes as a tax-free reorganization under the provisions of Section 368(a) of the Internal Revenue Code of 1986, as amended.
https://stockhouse.com/news/press-releases/2022/10/19/advaxis-and-ayala-pharmaceuticals-enter-into-merger-agreement
Randall 63%-
TORONTO, Sept. 6, 2022 /CNW/ - Mr. Randall Abramson announces that the percentage of the outstanding common shares ("Common Shares") of Advantex Marketing International Inc., 600 Alden Road, Suite 606, Markham, Ontario L3R 0E7 (the "Company") over which he owns and exercises control or direction has decreased by more than 2%, from 63.0% to 59.8% since the last report filed on March 25, 2022. The decrease is due to the termination of managed accounts by certain clients of Generation IACP Inc. in August 2022, resulting in a reduction of 6,728,406 Common Shares over which control or direction is exercised.