OrthoLogic Corporation (OLGC) Completes Acquisition Of Chrysalis BioTechnology
10/19/2005 5:11:14 PM
Under the terms of the definitive agreement previously announced on April 29, 2004, OrthoLogic paid CBI $2.5 million in cash and issued 3,462,124 shares of OrthoLogic common stock, valued at $25.0 million, for substantially all of CBI's assets and intellectual property. The transaction will be accounted for as an asset acquisition. Approximately $23.0 million will be expensed as In-Process Research and Development. The remainder of the purchase price and acquisition costs will be allocated to patents and trademarks.