MediciNova (MNOV) To Acquire Avigen (AVGN) For $4/Share
More News related to AVGN
- Notable Mergers and Acquisitions of the Day 8/21: MNOV/AVGN, BMY/MEDX, ORCL/JAVA
- MediciNova (MNOV) To Aquire Avigen (AVGN) For $1.24/Share
- Notable Mergers and Acquisitions of the Day 6/25: DBRN/TWB, MNOV/AVGN, AA/NE
- MediciNova (MNOV) To Acquire Avigen (AVGN) For $4/Share
- Avigen (AVGN) Stops Strategic Merger Discussions to Develop Plan for Liquidation; Fires CEO, CBO, General Counsel
More News related to MNOV
- MediciNova Announces Initiation of a Phase Ib Clinical Trial for MN-221 in Patients With Stable, Moderate to Severe Chronic Obstructive Pulmonary Disease
- MediciNova, Inc. Appoints Mr. Hiroaki Shigeta to Its Board of Directors
- Notable Mergers and Acquisitions of the Day 8/21: MNOV/AVGN, BMY/MEDX, ORCL/JAVA
- MediciNova (MNOV) To Aquire Avigen (AVGN) For $1.24/Share
- Unusual 11 Mid-Day Movers 7/21: MNOV, JRN, JDAS, BCRX Higher; CIT, IDIX, STSA, LXK Lower
More News related to Mergers and Acquisitions
- Sidoti & Co Initiates Coverage on Stratasys (SSYS) with a Neutral
- ThinkEquity Initiates Coverage on Sourcefire (FIRE) with a Buy
- Raymond James Initiates Coverage on Knight Capital (NITE) with a Market Perform
- Raymond James Initiates Coverage on International Game Technology (IGT) with a Market Perform
- Thomas Weisel Initiates Coverage on UQM Technologies (UQM) with an Overweight
MediciNova, Inc. (Nasdaq: MNOV) and Avigen, Inc. (Nasdaq: AVGN) have confirmed their understanding of certain key terms for a proposed acquisition of Avigen by MediciNova that would combine the companies' broad neurological clinical development programs based on ibudilast.
MediciNova and Avigen currently contemplate that the terms of the merger would provide that Avigen shareholders receive consideration approximating Avigen's net cash liquidation value plus $3 million. Avigen shareholders would be able to elect to receive this consideration in cash at closing or to receive a convertible security by which that cash consideration may be converted into MediciNova stock at a conversion price equal to the greater of $4.00 or a mutually agreeable volume-weighted average price of MediciNova common stock.
Shares of Avigen closed at $1.31 yesterday.
Related Categories
Mergers and AcquisitionsStocks Mentioned
-0.08
+0.00Sign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
