Zalicus Inc. (ZLCS) And EPIRUS Biopharmaceuticals Agree Zalicus Stockholders To Own 19 Percent Of Combined Company Post-Merger
6/25/2014 8:59:00 AM
BOSTON--(BUSINESS WIRE)--Zalicus Inc. (Nasdaq Capital Market: ZLCS) (“Zalicus”), and Epirus Biopharmaceuticals, Inc. (“Epirus”) agreed today that Zalicus stockholders will own 19% of the combined company post-merger. Pursuant to its merger agreement with Epirus Biopharmaceuticals, Inc., the percentage of the combined company that Zalicus stockholders will own as of the closing of the merger was subject to adjustment at the closing based on the level of Zalicus’ net cash as of a determination date prior to the closing. Based on Zalicus’ current level of net cash, both companies have agreed that stockholders of Zalicus will own approximately 19% of the combined company and current Epirus equityholders will own approximately 81% of the Company following the merger.
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