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Xtrana, Inc. (XTRN) And Alpha Innotech Corporation Announce Merger Agreement; Xtrana Accelerates Termination Of Shareholder Rights Plan


10/19/2005 5:12:28 PM

BROOMFIELD, Colo.--(BUSINESS WIRE)--Dec. 14, 2004--XTRANA, Inc. (OTCBB:XTRN) and Alpha Innotech Corporation announced today that they have entered into a definitive Agreement and Plan of Merger pursuant to which Alpha Innotech will merge with a wholly-owned subsidiary of Xtrana in a reverse merger transaction. Security holders of Alpha Innotech will receive shares of Xtrana common stock, and all outstanding Alpha Innotech stock options and warrants will be converted into options and warrants to purchase Xtrana common stock. Immediately following the consummation of the transaction, the stockholders of Xtrana will own approximately 17%, and the shareholders of Alpha Innotech will own approximately 83%, of the outstanding shares of common stock of the combined company. Pursuant to the definitive agreement, Xtrana also agreed to loan Alpha Innotech Corporation $500,000, with funding of the loan subject to fulfillment of specified conditions. Upon completion of the transaction, Xtrana is expected to change its corporate name to Alpha Innotech Corp.

Read at BioSpace.com

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