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PETX vs. ETF Alternatives
Monday, Oct 146:30 AMAratana Therapeutics to acquire Vet Therapeutics for cash and stock
Monday, Oct 146:30 AM| Comment!
- The acquisition is expected to significantly accelerate Aratana's (PETX) pathway toward becoming a commercial-stage pet therapeutics company.
- Aratana will pay to Vet $30M in cash, issue 625K shares of common stock, and issue a promissory note for $3M with a maturity date of December 31, 2014. Aratana will also pay up to $5M cash upon the achievement of certain regulatory and manufacturing milestones for the B-cell lymphoma product.
- Aratana also said that it has entered into a share purchase agreement providing for $19.75M of common shares - 1,234,375 shares at $16.00 per share.