BRIEF-Aegerion pharmaceuticals, Qlt Inc agree to strategic merger

Wed Jun 15, 2016 7:13am EDT
Email This Article |
Share This Article
  • Facebook
  • LinkedIn
  • Twitter
| Print This Article | Single Page
[-] Text [+]

June 15 (Reuters) - Aegerion Pharmaceuticals Inc :

* Aegerion Pharmaceuticals and QLT Inc. agree to strategic merger

* Each outstanding share of Aegerion common stock will be exchanged for 1.0256 shares of QLT common stock

* Broad-based investor syndicate to vote in favor of merger and provide concurrent financing of approximately $22 million

* QLT plans to change its name upon closing of proposed transaction to Novelion Therapeutics Inc

* QLT's common shares will trade on Nasdaq global select market and Toronto stock exchange

* Assuming completion of proposed merger by end of Q3 of 2016, Novelion is expected to have an unrestricted cash balance of over $100 million

* Proposed transaction has been approved by boards of directors of both companies

* Aegerion's CEO, Mary Szela, will serve as CEO of Novelion following close of transaction   Continued...