MIAMI and VERNON HILLS, Ill., Sept. 26 /PRNewswire-FirstCall/ -- Winston Laboratories, Inc., a company engaged in the discovery and development of products for pain management, and Getting Ready Corporation, a publicly-traded company with no active operations (OTC: GTRY), completed a merger on September 25, 2008, pursuant to a merger agreement providing for the merger of Winston with and into Winston Acquisition Corp., a wholly-owned subsidiary of GTRY. Winston will continue as the surviving entity in the merger and as a wholly-owned subsidiary of GTRY. In connection with the consummation of the merger, GTRY expects to change its name from "Getting Ready Corporation" to "Winston Pharmaceuticals, Inc." GTRY's trading symbol is "GTRY.OB," which the company expects to change in connection with the name change. GTRY intends to apply to have its shares listed on the American Stock Exchange.
As previously reported, simultaneously with the signing of the merger agreement, on November 13, 2007, a group of investors led by Dr. Phillip Frost, Chairman and Chief Executive Officer of Opko Health, Inc., invested approximately $5.0 million in Winston in exchange for shares of preferred stock and warrants of Winston. Prior to the closing of the merger, a group of investors led by Dr. Phillip Frost and Glenn L. Halpryn made an additional $4.0 million investment in Winston's preferred stock. The proceeds from the investments have and will fund ongoing research and development activities and current operations.
Under the terms of the merger agreement, at the closing of the merger,
each common share of Winston issued and outstanding was converted into and
exchanged for the right to receive approximately 17.65 shares of common
stock of GTRY, and each share of preferred stock of Winston was converted
into and exc
|SOURCE Getting Ready Corporation|
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