Mergers & Acquisitions
By The Online Investor Staff, updated Thu., Feb. 27, 2:58 PM
| This Slide: #46 of 100 |
Slide #46. Aytu BioScience, Inc. — Innovus Pharmaceuticals, Inc.
Acquirer:
Aytu BioScience, Inc. (NASDAQ:AYTU)
Acquiree:
Innovus Pharmaceuticals, Inc.
Details:
Aytu BioScience, Inc. (NASDAQ:AYTU), a specialty pharmaceutical company focused on commercializing novel products that address significant patient needs and Innovus Pharmaceuticals, Inc., a specialty pharmaceutical company commercializing, licensing and developing safe and effective consumer health products, today announced that the companies have closed the acquisition of Innovus by Aytu. Through this transaction Aytu has retired all outstanding common stock of Innovus and certain Innovus warrants for consideration consisting of approximately 3.8 million shares of Aytu common stock and approximately 2 million shares of preferred stock (convertible on a 1:1 basis into common stock) and the forgiveness of $1.35 million of debt previously owed to Aytu. On a consolidated basis, Aytu will also assume $3.2 million in unsecured debt of Innovus.
Aytu Bioscience is a pharmaceutical company focused on identifying, acquiring, and commercializing products. Co.'s products include: Natesto® (testosterone) nasal gel, which is a testosterone replacement therapy for hypogonadism (low testosterone) in men; Tuzistra® XR, which is a codeine-based antitussive; ZolpiMist™, which is indicated for the short-term treatment of insomnia, and is an oral spray formulation of zolpidem tartrate - prescribed prescription sleep aid in the United States; and MiOXSYS®, which is an in vitro diagnostic system that performs a semen analysis test used to measure static oxidation-reduction potential in human semen, and is marketed outside the United States.
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Avg. Broker Rec.
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