BioSante Pharmaceuticals (BPAX) and Cell Genesys (CEGE) Announce Final Exchange Ratio for Merger
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BioSante Pharmaceuticals (NASDAQ: BPAX) and Cell Genesys, Inc. (NASDAQ: CEGE) announced that they have determined the final exchange ratio as 0.1828 in connection with the previously announced merger between the companies.
If the merger is completed, Cell Genesys stockholders will receive 0.1828 of a share of BioSante common stock for each share of Cell Genesys common stock they hold immediately prior to the effective time of the merger. Each company is scheduled to hold a special meeting of stockholders on September 30, 2009 at which time stockholders will be asked to approve the merger. BioSante and Cell Genesys expect to close the proposed merger promptly after such stockholder approvals have been obtained.
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