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BRIEF-Dipexium and PLX Pharma announce merger agreement
December 22, 2016 / 9:59 PM / a year ago

BRIEF-Dipexium and PLX Pharma announce merger agreement

Dec 22 (Reuters) - Dipexium Pharmaceuticals Inc :

* Dipexium Pharmaceuticals -following closing, dipexium will be renamed PLX Pharma Inc, and will operate under leadership of PLX management team

* Dipexium Pharmaceuticals Inc - co to issue about 36 million new shares of common stock to PLX stockholders under exchange ratio formula

* Dipexium Pharmaceuticals Inc - boards of directors of both Dipexium and PLX Pharma have unanimously approved proposed transaction

* Dipexium Pharmaceuticals Inc - PLX stockholders will receive newly issued shares of common stock of Dipexium

* Dipexium and PLX Pharma announce merger agreement

* Dipexium Pharmaceuticals Inc - upon closing of merger, existing PLX stockholders are expected to own 76.75% of Dipexium common shares outstanding

* Dipexium Pharmaceuticals Inc - Michael Valentino to serve as executive chairman of board and Natasha Giordano to serve as president and CEO of combined co

* Dipexium Pharmaceuticals Inc - upon closing of merger, existing Dipexium stockholders are expected to own 23.25% of Dipexium common shares outstanding

* Dipexium Pharmaceuticals Inc -upon closing the merger, existing PLX stockholders are expected to own 76.75% of Dipexium common shares outstanding

* Dipexium and PLX Pharma announce merger agreement Source text for Eikon: Further company coverage:

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