someone knows why Neptune is publishing a news about a merger between Opexa and Acer, which mean that Acer will become public... ? just want to understand.. is there a possible consolidation of the market ?
Featured Company News - Opexa Therapeutics and Acer Therapeutics Announced Merger Agreement Followed by Concurrent Financing from Acer Investor Syndicate
Research Desk Line-up: Neptune Technologies & Bioressources Post Earnings Coverage
LONDON, UK / ACCESSWIRE / July 5, 2017 / Pro-Trader Daily takes a look at the latest corporate events and news making the headlines for Opexa Therapeutics, Inc, (NASDAQ: OPXA), following which we have published a free report that can be viewed by signing up at https://protraderdaily.com/optin/?symbol=OPXA. The Company announced on July 03, 2017, that pursuant to a definitive agreement, Acer Therapeutics, Inc., a privately-held pharmaceutical company, has agreed to hold a majority stake in the Company. Acer's stockholders are currently estimated to become holders of about 88.8% of Opexa Therapeutics' outstanding common stock on a pro-forma basis. The current Opexa's shareholders are expected to retain the remaining 11.2%, where the proposed merger stands subject to certain conditions, including shareholder approval from both the Companies. For immediate access to our complimentary reports, including today's coverage, register for free now at:
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The Announcement
In light of the announcement, an investor syndicate led by TVM Capital Life Sciences and comprised of existing Acer's investors and new investors has committed to invest about $15.7 million in Acer, immediately prior to the closing of the proposed merger. Acer plans to establish itself as the leading pharmaceutical firm that acquires, develops, and commercializes therapies for the treatment of patients with serious rare diseases with unmet medical needs. The Company has committed significant resources to rapidly advance the lead candidate of its portfolio, i.e., EDSIVO, a potentially life-saving therapy for patients with vEDS, where the Company believes that proceeds from the concurrent financing will enable it to advance EDSIVO, through NDA submission in H1 2018.
Opexa views this agreement as a step to expand on Acer's lead asset, EDSIVO, which could be on the market in the next two years. This factor, along with Acer's strategic vision and pipeline, recently secured financing and its strong management team offers shareholders with the opportunity to enhance the value of their shares.
Details of the Merger
Under terms of the agreement, existing stockholders of Acer as well as investors in Acer's concurrent financing are entitled to receive newly issued shares of Opexa's common stock in connection with the proposed merger. Currently, Acer's stockholders are expected to own about 63.8% shares, excluding the shares issued under the concurrent financing. The proposed merger agreement is expected to close in Q3 FY17, and the merger agreement contains further details with respect to the proposed merger.