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

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Pernix Therapeutics
PTX
and Somaxon Pharmaceuticals, Inc. (“Somaxon”)
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
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Posted In: NewsGuidanceManagementM&A
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