ProCyte deal

In a letter to SCHR, PRCY said the "proposed three-way combination offers no meaningful business opportunities or benefits to ProCyte and its shareholders."

The net result would be to drain PRCY’s treasury, the Seattle company said. Although PRCY’s shareholders would receive only 42 percent of the combined entity, PRCY would be providing 96 percent of the cash of the combined entity, PRCY said. ...