BioSante Pharmaceuticals, Inc. BPAX today provided an update on the
Company's proposed merger transaction with ANI Acquisition Company d/b/a ANI
Pharmaceuticals, Inc. and reported on its cash balance as of December 31, 2012
and financial results for the year ended December 31, 2012.
Merger Update
The special meeting of BioSante's stockholders to vote on the proposed merger
with ANI currently is scheduled to be held at 8:00 a.m., Central Time, at
BioSante's corporate office located at 111 Barclay Boulevard, Lincolnshire,
Illinois 60069.
The required vote to approve the merger is a majority of the outstanding
shares of capital stock of BioSante. As of February 28, 2013, a significant
number of shares have not yet been voted. However, of those shares that have
been voted, 84.2% have been voted in favor of the merger proposal and 80.6%
have been voted in favor of the reverse split proposal required in order to
maintain the merged company's NASDAQ Global Market listing. Each stockholder's
vote is critical to the success of the merger whether the position be 100,000
shares or even 1,000 shares. BioSante encourages ALL stockholders to vote
their shares promptly by calling (800) 357-9167. This call should take less
than one minute. No confidential information will be required.
The board of directors of BioSante unanimously recommends that stockholders
vote “FOR” the adoption of the merger agreement and all related matters being
submitted to a vote of BioSante stockholders.
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