Navigation Links
Proceedings to Affirm Merger Between PharmAthene and Healthcare Acquisition Corp Initiated in Delaware Chancery Court
Date:8/19/2007

ANNAPOLIS, Md., Aug. 13 /PRNewswire-FirstCall/ -- PharmAthene, Inc., (Amex: PIP) a biodefense company developing and commercializing medical countermeasures against biological and chemical threats, announced today that proceedings have been initiated with the Delaware Chancery Court to affirm the validity of the merger between Healthcare Acquisition Corp. and PharmAthene.

"We hope that the Court of Chancery will determine that the Merger was validly approved and consummated so that PharmAthene may, in accordance with the desires of an overwhelming majority of its stockholders, make use of the funds held in escrow towards the furtherance of its business plan. We remind you that the action initiated by our shareholder is intended to seek affirmation from the court of the validity of the merger, and should not be interpreted by PharmAthene shareholders as a challenge to the merger," said David P. Wright, President and Chief Executive Officer of PharmAthene.

The certificate of merger was filed on August 3, 2007. Shares of PharmAthene began trading on the American Stock Exchange on August 7, 2007, under the symbol 'PIP' and 'PIP-WT' for the company's warrants.

Additional Information

HAQ AND PHARMATHENE CLAIM THE PROTECTION OF THE SAFE HARBOR FOR "FORWARD- LOOKING STATEMENTS" WITHIN THE MEANING OF THE PRIVATE SECURITIES LITIGATION REFORM ACT OF 1995. FORWARD-LOOKING STATEMENTS ARE STATEMENTS THAT ARE NOT HISTORICAL FACTS. SUCH FORWARD-LOOKING STATEMENTS, BASED UPON THE CURRENT BELIEFS AND EXPECTATIONS OF MANAGEMENT OF HAQ AND PHARMATHENE REGARDING, AMONG OTHER THINGS, THE POTENTIAL DETERMINATIONS BY A COURT OF CHANCERY IN DELAWARE AS TO THE VALIDITY OF THE APPROVAL OF THE MERGER, WHICH CANNOT BE PREDICTED WITH CERTAINTY. NO ASSURANCES CAN BE GIVEN THAT OTHER PARTIES WILL NOT OPPOSE CONFIRMATION OF SUCH VALIDITY. IN THE EVENT THAT THE DELAWARE COURT OF CHANCERY DOES NOT AFFIRM SUCH VALIDITY, PHARMATHENE COULD BE REQUIRED TO LIQUIDATE ANY FUNDS THEN HELD IN TRUST. THIS PROCEEDING WILL NOT AFFECT THE DISTRIBUTION OF THE TRUST FUND TO STOCKHOLDERS WHO ELECTED CONVERSION.

About PharmAthene, Inc.

PharmAthene is a biodefense company formed in 2001 to meet the critical needs of the United States by developing biodefense products. PharmAthene is dedicated to the rapid development of important and novel biotherapeutics to address biological pathogens and chemicals that may be used as weapons of bioterror. PharmAthene's lead programs include Valortim(TM) and Protexia(R). For more information on PharmAthene, please visit its website at http://www.PharmAthene.com.


'/>"/>
SOURCE PharmAthene

Copyright©2007 PR Newswire.

Related biology technology :

1. Study affirms information technology-productivity link
2. Wisconsin court affirms damages in Innogenetics, Abbott patent case
3. Technology and mergers: Getting the strategic applications
4. AT&T - BellSouth merger: Revestiture continues
5. CDW names VP to handle Berbee merger
6. Some great insights into the current Mergers & Acquisitions Market
7. Merges merger is the crux of shareholder lawsuits
8. Technology grants, Bone Care merger
9. FTC has fast-tracked Bone Care merger
10. Merge eFilm corporate merger with Canadian firm moves ahead
11. Drug innovation beats marketing, patents and mergers
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:6/27/2016)... ... 27, 2016 , ... Parallel 6 , the leading software as a ... Reach Virtual Patient Encounter CONSULT module which enables both audio and video telemedicine ... team. , Using the CONSULT module, patients and physicians can schedule a face to ...
(Date:6/27/2016)... BOSTON , June 27, 2016   Ginkgo ... biology to industrial engineering, was today awarded as ... a selection of the world,s most innovative companies. ... at scale for the real world in the ... organism engineers work directly with customers including Fortune ...
(Date:6/24/2016)... ... ... Researchers at the Universita Politecnica delle Marche in Ancona combed medical journal articles ... findings are the subject of a new article on the Surviving Mesothelioma website. ... blood, lung fluid or tissue of mesothelioma patients that can help point doctors to ...
(Date:6/23/2016)... June 23, 2016 /PRNewswire/ - FACIT has announced ... biotechnology company, Propellon Therapeutics Inc. ("Propellon" ... commercialization of a portfolio of first-in-class WDR5 inhibitors ... such as WDR5 represent an exciting class of ... precision medicine for cancer patients. Substantial advances have ...
Breaking Biology Technology:
(Date:6/20/2016)... 2016 Securus Technologies, a leading provider ... public safety, investigation, corrections and monitoring announced that ... has secured the final acceptance by all three ... Access Systems (MAS) installed. Furthermore, Securus will have ... installed by October, 2016. MAS distinguishes between legitimate ...
(Date:6/7/2016)... June 7, 2016  Syngrafii Inc. and San ... relationship that includes integrating Syngrafii,s patented LongPen™ eSignature ... This collaboration will result in greater convenience for ... union, while maintaining existing document workflow and compliance ... ...
(Date:6/1/2016)... -- Favorable Government Initiatives Coupled With Implementation ... to Boost Global Biometrics System Market Through 2021  ... " Global Biometrics Market By Type, By End ... - 2021", the global biometrics market is projected to ... growing security concerns across various end use sectors such ...
Breaking Biology News(10 mins):