Less Than 350,000 Additional Votes "FOR" Required for Integra Merger
IRVINE, California, October 24 /PRNewswire-FirstCall/ -- IsoTis, Inc. (NASDAQ: ISOT) ("IsoTis"), an orthobiologics company, today announced that it has adjourned the special meeting of stockholders again, to October 26, 2007, to approve the acquisition of IsoTis by Integra LifeSciences Holdings Corporation (NASDAQ: IART) ("Integra") pursuant to an agreement and plan of merger dated as of August 6, 2007.
The special meeting of stockholders will now be held at 7 a.m. Pacific time on October 26, 2007 at IsoTis' offices of Latham & Watkins at 650 Town Center Drive, 20th floor, Costa Mesa, CA.
In order hold the special meeting, a majority of IsoTis' 7,099,229 outstanding shares (i.e., 3,549,615 shares) must be present at the meeting in person or by proxy. An insufficient number of shares were present at today's reconvened meeting to conduct the meeting. Of the 3.4 million shares present, approximately 3.2 million voted "for" the merger with Integra, representing 94.3% of the votes cast to date, and 45.5 % of all outstanding shares at the record date.
Based on recent communications with custodians and brokers, IsoTis is
cautiously optimistic that it will be able to solicit the additional
approximate 350,000 shares before the newly adjourned meeting recommences
on October 26, 2007. Should this not turn out to be the case, IsoTis may
adjourn the meeting again, or may consider calling a new me
|SOURCE IsoTis Inc|
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