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:12/9/2016)... 2016 According to a new market research ... Predesigned, Reagent Equipment), Application (Research, PCR, Gene, DNA, NGS, Diagnostic, RNAI), ... MarketsandMarkets, the global market is expected to reach USD 2.20 Billion ... of 10.6% during the forecast period. ... ...
(Date:12/8/2016)... 2016 This report analyzes the worldwide markets for ... (Humic, Amino, & Fulvic), Extract Based, and Others. The report ... Ornamental & Turf, Row Crops, and Others. The report provides ... , Japan , Europe ... , and Rest of World. Annual estimates and forecasts ...
(Date:12/8/2016)... DIEGO, Dec. 8, 2016  OncoSec Medical Incorporated ... developing DNA-based intratumoral cancer immunotherapies, today announced financial ... "We are delivering on our commitment ... with ImmunoPulse® IL-12. We are pleased with the ... combination trial, and we are focused on advancing ...
(Date:12/8/2016)... India , December 8, 2016 ... a comprehensive analysis, titled Global Amyloglucosidase Industry 2016 Market Research ... classification, application, and industry chain overview are all covered in ... SWOT analysis, and investment return analysis of the Amyloglucosidase industry. ... , , ...
Breaking Biology Technology:
(Date:12/6/2016)... 6, 2016  Zimmer Biomet Holdings, Inc. (NYSE and SIX: ... offering of €500.0 million principal amount of its 1.414% senior ... its 2.425% senior unsecured notes due 2026. ... December 13, 2016, subject to the satisfaction of customary closing conditions.  ... The Company intends to use the ...
(Date:12/6/2016)... , Dec. 6, 2016 Securus ... justice technology solutions for public safety, investigation, corrections ... jointly announced today a five (5) year funding ... agreement to expand the rehabilitation and reentry support ... PEP History Established in 2004, the Prison Entrepreneurship ...
(Date:12/2/2016)... India , December 1, 2016 ... Authentication type (Fingerprint, Voice), Future Technology (Iris Recognition ... and Region - Global Forecast to 2021", published ... USD 442.7 Million in 2016, and is projected ... at a CAGR of 14.06%.      ...
Breaking Biology News(10 mins):