BioCentury
ARTICLE | Company News

Callisto, Synergy deal

July 30, 2012 7:00 AM UTC

Synergy will acquire its principal stockholder Callisto in a stock deal. The deal values Callisto at $117 million based on Synergy's close of $4.34 on July 20, before the deal was announced. Each Callisto common stock will be exchanged for 0.17 shares of Synergy and the 22.3 million shares of Synergy held by Callisto will be canceled. Callisto will own about 38.3% of the combined company, while Synergy shareholders will own about 61.7%. The deal is expected to close in October. Canaccord Genuity advised Synergy and Brean Murray advised Callisto. ...