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News Breaks | | | | October 19, 2012 | | 07:52 EDT |  | NABI | Nabi Biopharma: exchange ratio for proposed combination with Biota Holdings
Nabi announced that, if the proposed business combination transaction between Nabi Biopharmaceuticals and Biota Holdings is completed, each ordinary share of Biota capital stock will be transferred to Nabi in exchange for 0.749778075 of a share of Nabi common stock, subject to the adjustment if the proposed reverse stock split becomes effective. If the proposed reverse stock split is approved by Nabi stockholders at the reconvened special meeting of stockholders to be held Oct. 22, depending on the ratio for the reverse stock split determined by Nabi's board of directors, four, five, six, seven or eight shares of existing Nabi common stock will be combined into one new share of Nabi common stock. Upon the effectiveness of the reverse stock split, the number of shares of Nabi common stock to be exchanged for each share of Biota capital stock will be reduced to reflect the effect of the reverse stock split on Nabi common stock. The actual reverse stock split ratio is expected to be determined by Nabi's board of directors, and announced publicly, shortly after the completion of the Special Meeting. The following table sets forth the approximate number of shares of Nabi common stock to be issued for each Biota ordinary share upon the effectiveness of each possible reverse stock split ratio. | |
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