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Stock Market & Financial Investment News

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April 12, 2013
18:05 EDTBPAXBioSante, ANI announce new merger agreement
BioSante Pharmaceuticals and ANI Pharmaceuticals announced that they have entered into a new merger agreement pursuant to which an acquisition subsidiary of BioSante will merge into ANI. Upon completion of the merger BioSante will issue to ANI stockholders shares of BioSante common stock such that the former ANI stockholders will own 57% of the combined company’s shares of common stock outstanding, and the former BioSante stockholders will own 43%. In a change from the prior merger agreement, these ownership percentages will not be subject to adjustment. The new merger agreement has been approved by the boards of directors of both BioSante and ANI. BioSante currently anticipates that the transaction will close later in the year.
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