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Synergy Pharmaceuticals Shareholders Approve Merger with Callisto Pharmaceuticals

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Synergy Pharmaceuticals (NASDAQ: SGYP) ("Synergy") today announced that it convened its annual meeting of stockholders yesterday and it has received the necessary approvals from its stockholders to authorize Synergy's merger with Callisto Pharmaceuticals (NASDAQ: CLSP) pursuant to the previously announced Agreement and Plan of Merger, dated July 20, 2012, as amended on October 15, 2012. Synergy and Callisto expect to close the merger as soon as practicable.

In addition, the following other actions were approved by the stockholders at the annual meeting:

an amendment to the Synergy's 2008 Equity Compensation Incentive Plan (the "Plan") to increase the number of shares of Synergy common stock reserved for issuance under the Plan from 7,500,000 to 15,000,000;

an amendment to the Synergy's Second Amended and Restated Certificate of Incorporation to increase the number of authorized shares of Synergy common stock from 100,000,000 to 200,000,000;

the seven (7) director nominees, all of whom currently serve as directors of Synergy, were re-elected with a term to expire in 2013;

the appointment of BDO USA, LLP as Synergy's independent registered public accounting firm for the fiscal year ended December 31, 2012 was ratified;

on an advisory basis, approved the compensation of Synergy's named executive

See full press release

Posted-In: News Guidance Management M&A

 

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