Evolva completes Allylix acquisition
Evolva Holding SA announces the completion of the acquisition of Allylix, Inc., after which Allylix will be a wholly-owned subsidiary of Evolva. This acquisition was announced on 18 November 2014.
Evolva will acquire Allylix in return for an overall consideration of 46 million newly-issued Evolva shares (c. 14.1% of Evolva post transaction). Part of these shares, currently estimated at approx. 6 million shares, will be sold over a period of time after closing, to offset certain liabilities and transaction expenses of Allylix. Shares allocated to the Allylix security holders will be subject to a staggered lock-up, such that the shares will be released in twelve tranches of approx. 3 million shares each, during the first year after the closing of the transaction.
Other news from the department business & finance
