Advaxis, Inc.

NASDAQ:ADXS   3:59:22 PM EDT
0.42
-0.01 (-3.37%)
Mergers / Acquisitions

Advaxis And Biosight Announce Entry Into Definitive Merger Agreement

Published: 07/06/2021 10:19 GMT
Advaxis, Inc. (ADXS) - Advaxis and Biosight Announce Entry Into Definitive Merger Agreement.
Advaxis Inc - Following Close, Advaxis Will Be Renamed Biosight Therapeutics and is Expected to Trade on Nasdaq Under Ticker Symbol "bstx".
Advaxis - Co Will Acquire All Outstanding Share Capital of Biosight in Exchange for Issuance of Newly Issued Shares of Co's Common Stock Upon Closing.
Advaxis Inc - Combined Company Will Be Well-funded With Cash Position of Approx $50 Million Expected at Closing.
Advaxis Inc - Upon Completion of Merger, Advaxis's Then-current Equity Holders Will Own About 25% of Advaxis's Common Stock.
Advaxis Inc - Upon Completion of Merger, Former Biosight Equity Holders Will Own About 75% of Advaxis's Common Stock.
Advaxis Inc - Effective As of Closing of Transaction, Ken Berlin Will Be President and Chief Executive Officer of Combined Company.
Advaxis Inc - Senior Leadership of Combined Company Will Include Roy Golan, As Chief Financial Officer.
Advaxis Inc - Multiple Clinical and Regulatory Pipeline Milestones Planned for Combined Company Over Next 12-18 Months.