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:2/4/2016)... , February 4, 2016 ... a biotechnology acceleration company is pleased to provide the following ... --> Over the last 3 months we have ... securities purchase agreements exceeding $1,000,000. As a result, we have ... Mannin Research Inc. license agreement and expect that development to ...
(Date:2/4/2016)... Md. , Feb. 4, 2016  Spherix Incorporated ... to the fostering and monetization of intellectual property, today ... and Uniden in the Northern District of ... moving forward.  Inter Partes Re-examination ... U.S. Patent Office.  The IPR was initiated on only ...
(Date:2/4/2016)... ... February 04, 2016 , ... ... leading supplier of Semantic Graph Database technology has been recognized As “ Best ... by Corporate America Magazine. , “At Corporate America, it’s our priority to showcase ...
(Date:2/4/2016)... ... February 04, 2016 , ... Many of the engineers at FireflySci, Inc. ... What sets them apart from other cuvette manufacturers is their supercharged customer service and ... On top of this steady flow of inside information, they have recently revamped their ...
Breaking Biology Technology:
(Date:2/3/2016)... , February 3, 2016 ... new market research report "Automated Fingerprint Identification System Market ... Latent Search), Application (Banking & Finance, Government, Healthcare, and ... by MarketsandMarkets, the market is expected to be worth ... of 21.0% between 2015 and 2020. The transformation and ...
(Date:2/2/2016)... This BCC Research report provides a ... the recent advances in high throughput ‘omic platforms ... forward. Includes forecast through 2019. Use ... opportunities that exist in the bioinformatic market. Analyze ... well as IT and bioinformatics service providers. Analyze ...
(Date:2/2/2016)... 2, 2016  Based on its recent analysis ... recognizes US-based Intelligent Retinal Imaging Systems (IRIS) with ... for New Product Innovation. IRIS, a prominent cloud-based ... America , is poised to set the ... retinopathy market. The IRIS technology presents superior price-performance ...
Breaking Biology News(10 mins):