April 23, 2018 / 12:34 PM / 3 months ago

BRIEF-Precision Therapeutics Signs Letter Of Intent To Purchase Remainder Of Helomics Corporation Shares

April 23 (Reuters) - Precision Therapeutics Inc:

* PRECISION THERAPEUTICS, INC. SIGNS LETTER OF INTENT TO PURCHASE REMAINDER OF HELOMICS CORPORATION SHARES

* PRECISION THERAPEUTICS - UNDER TERMS OF AGREEMENT, A NEW WHOLLY OWNED UNIT OF CO WILL MERGE WITH AND INTO HELOMICS CORP

* PRECISION THERAPEUTICS INC - AGREEMENT INCREASES PRECISION’S EQUITY STAKE IN HELOMICS FROM 25% TO 100%

* PRECISION THERAPEUTICS- OUTSTANDING SHARES OF HELOMICS STOCK TO BE CONVERTED INTO RIGHT TO RECEIVE PROPORTIONATE SHARE OF 7.5 MILLION SHARES OF CO’S STOCK

* PRECISION THERAPEUTICS INC - ALL WARRANTS OF HELOMICS’ COMMON STOCK WILL BE CONVERTED INTO WARRANTS TO PURCHASE SHARES OF PRECISION COMMON STOCK

* PRECISION THERAPEUTICS- HELOMICS’ MANAGEMENT TEAM TO REMAIN IN RESPECTIVE LEADERSHIP POSITIONS AT HELOMICS, TO MANAGE CO’S TUMORGENESIS OPERATIONS Source text for Eikon: Further company coverage: (Reuters.Briefs@thomsonreuters.com)

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