CBio, Inverseon deal

CBio merged with Inverseon to form newco Invion Ltd. (ASX:IVX, Brisbane, Australia). CBio issued 143.5 million to Invereson shareholders. The shares are valued at A$7.2 million ($7.4 million) based on CBio's close of A$0.05 on Aug. 30, the day before the deal closed, and represent a 37.5% stake in Invion. Inverseon's William Garner and Mitchell Glass joined the board of the newco. CBio said the deal is the result of a strategic review by its board to increase value by developing the assets of both companies. ...