Nabi Biopharmaceuticals Effects Reverse Stock Split and Announces the Completion of and Final Exchange Ratio for the Business Combination Transaction With Biota Holdings Limited
Published: Nov 09, 2012
ROCKVILLE, Md., Nov. 9, 2012 (GLOBE NEWSWIRE) -- Nabi Biopharmaceuticals (Nasdaq:NABI) announced today the effectiveness of its six-to-one reverse stock split (the "Reverse Stock Split") of Nabi common stock, which became effective as of 4:59 p.m., Eastern Standard Time, on November 8, 2012 (the "Effective Time"). Nabi also announced today the closing of the business combination transaction (the "Transaction") between Nabi and Biota Holdings Limited (ASX:BTA.AX) (which occurred after the Effective Time) and a final, split adjusted, exchange ratio of 0.1249539870 of a share of Nabi common stock for each Biota ordinary share. In addition, Nabi's corporate name was changed to Biota Pharmaceuticals, Inc. in connection with the closing of the Transaction. Shares of common stock of the combined company, Biota Pharmaceuticals, Inc., will begin trading on the NASDAQ Global Select Market on a reverse split adjusted basis at the opening of trading on November 9, 2012 under a new CUSIP number under the new symbol "BOTA".