Biopool/Xtrana
This article was originally published in The Gray Sheet
Executive Summary
Acquisition of nucleic acid testing technology developer Xtrana by in vitro diagnostic reagent maker Biopool International under a definitive stock-swap agreement announced May 4 is valued at about $9.5 mil. based on Biopool's May 4 closing price of $1.01 per share. Under the terms of the deal, all outstanding shares of Xtrana will be converted into approximately 9.4 mil. newly issued Biopool shares. As a result, current Xtrana and Biopool stockholders will hold about 50% of the combined company