Market Overview

Pernix Therapeutics to Acquire Somaxon Pharmaceuticals in $25M Stock Deal

Share:
Related PTX
Wall Street's Hall Of Fame (And Hall Of Shame): The Best And Worst Analyst Recommendations Of 2014
UPDATE: JMP Securities Initiates Coverage On Pernix Therapeutics On Positive Growth Outlook
The Long Case For Pernix (Seeking Alpha)
Related SOMX
Pernix Therapeutics Completes Acquisition of Somaxon Pharmaceuticals
Somaxon Reports Paladin Labs Wins Health Canada Approval of NDS for Silenor
PTX Reduces Sales Force, CFO Quits - Analyst Blog (Zacks)

Pernix Therapeutics (NYSE: PTX) and
Somaxon Pharmaceuticals, Inc. (“Somaxon”) (NASDAQ: SOMX) today announced
that they have entered into a definitive merger agreement for Pernix to
acquire Somaxon in a stock-for-stock transaction with a total equity
value of $25 million.

Under the terms of the agreement, which has been unanimously approved by
the boards of directors of both companies, Somaxon stockholders will
receive aggregate consideration equal to $25 million in Pernix common
stock. The number of shares of Pernix common stock to be issued to the
stockholders of Somaxon will be based on the volume-weighted average
price of Pernix's common stock over the 30 day period ending on the day

See full press release

Posted-In: News Guidance Management M&A

 

Related Articles (SOMX + PTX)

Around the Web, We're Loving...

Get Benzinga's Newsletters