VeriTeQ to Go Public Through Transaction With Digital Angel Corporation
6/25/2013 11:02:16 AM
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DELRAY BEACH, Fla. & NEW LONDON, Conn.--(BUSINESS WIRE)--VeriTeQ Acquisition Corporation (“VeriTeQ”), a provider of implantable medical device identification and radiation dose measurement technologies, announced today it has entered into a Share Exchange Agreement with Digital Angel Corporation (“Digital Angel”) (OTC Market: DIGA) and all of the VeriTeQ shareholders, whereby Digital Angel will acquire all of the issued and outstanding shares of VeriTeQ’s common stock in exchange for 4,107,592 shares of Digital Angel’s Series B convertible preferred stock, and the VeriTeQ stockholders will become the majority owners of Digital Angel. In conjunction with this announcement, Digital Angel will file a Schedule 14F-1 with the U.S. Securities and Exchange Commission (“SEC”) in connection with a change in the majority of its board of directors to a group of directors designated by VeriTeQ that will be effective when the transaction closes, and it will change its name to VeriTeQ Corporation and effect a reverse stock split as soon as practicable.
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