Why Are Neos Therapeutics, Aytu BioScience Stocks Soaring Today?

Neos Therapeutics Inc NEOS and Aytu BioScience Inc AYTU shares are rising today in the premarket session, though there is no news on both companies.

  • The investors are reacting to the companies' respective special meetings of stockholders related to the proposed merger between Aytu and Neos that will happen today.
  • Each company's stockholders on record as of February 5 will be eligible to receive notice of vote at their respective company's special meeting.
  • Last week, an independent proxy advisory firm Glass, Lewis & Co, recommended Neos Therapeutics stockholders vote "FOR" the merger. Another independent proxy advisory firm, Institutional Shareholder Services Inc., also recommended Neos Therapeutics stockholders vote "FOR" the deal.
  • Neos stockholders will receive 0.1088 Aytu shares upon merger closing, valuing the all-stock transaction at approximately $44.9 million.
  • The combined company will operate under Aytu Biopharma Inc moniker.
  • Price Action: NEOS and AYTU shares are trading 63.8% and 23.1% higher at $1.9 and $11.89, respectively, in premarket trading on the last check Thursday.

Posted In: BiotechM&ANewsPenny StocksHealth CareGeneral

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