CLDN
sale of Celladon Corporation to Eiger BioPharmaceuticals, Inc.
Existing Eiger stockholders as well as investors in the contemporaneous financing will receive newly issued shares of Celladon common stock in connection with the proposed merger. Celladon is expected to issue approximately 85.0 million new shares of its common stock to Eiger stockholders and participants in the financing. On a pro forma basis for the combined company, current Celladon shareholders are expected to own approximately 22%, current Eiger shareholders approximately 45% and the new Eiger investor syndicate approximately 33%, each on a fully-diluted basis
The proposed merger is expected to close in the first half of 2016
The total cash balance of the combined company upon the closing of the proposed merger and the financing is expected to be greater than $60 million.
"The proposed merger and concurrent financing are expected to be sufficient to allow the combined company to obtain Phase 2 clinical trial results from at least two of the four planned development programs by late 2016," said David Cory, President and Chief Executive Officer of Eiger. "We have a dedicated, experienced management team in place and executing on these four novel programs, all of which address potentially significant markets with unmet medical needs."
http://ir.celladon.net/releasedetail.cfm?ReleaseID=943527
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