Somatix Therapy Corp. stockholders approved its merger withGeneSys Therapeutics Corp. at Somatix's annual stockholdersmeeting on Thursday.
When the merger is completed within the next few days,GeneSys shareholders will receive 0.35095 shares of newlyissued Somatix common stock (NASDAQ:SOMA) for each shareof privately held GeneSys stock, resulting in the issuance ofabout 2.5 million Somatix shares.
Somatix stock closed down 88 cents at $12.50 on Thursday.
GeneSys shareholders will hold about 22 percent of fullydiluted stock in the combined gene therapy company, whichwill be based in Alameda, Calif.
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