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On Friday, Avigen Inc. (AVGN) announced that it will be purchased by MediciNova, Inc. (MNOV) for $1.24 per share in either cash or secured convertible notes. The deal has been valued at about $37 million.
Approximately $1.19 of the consideration is scheduled be paid to Avigen shareholders upon the closing of the deal. The remaining 5 [...]
On Friday, Avigen Inc. (AVGN) announced that it will be purchased by MediciNova, Inc. (MNOV) for $1.24 per share in either cash or secured convertible notes. The deal has been valued at about $37 million. Approximately $1.19 of the consideration is scheduled be paid to Avigen shareholders upon the closing of the deal. The remaining 5 cents will be paid on June 30, 2010, subject to certain adjustments. Additionally, they will be entitled to a contingent payment right which will enable them to receive certain other payments. The deal is expected to close in the fourth quarter of this year, subject to shareholders' approval. Avigen has been on the lookout for a buyer ever since its lead candidate AV650 -- for the[More...]
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