SEOUL, South Korea, Nov. 17 /PRNewswire/ -- Arigene Co., Ltd., a Korean corporation traded on the Korean Securities Dealers Association Quotation System ("Arigene") (KOSDAQ: 067850), today announced that it has entered into an amendment to its previously announced merger agreement dated October 2, 2009 with Trimeris, Inc. ("Trimeris") ( TRMS). The amendment provides for an extension of the expiration date of the tender offer being conducted by Arigene for Trimeris' outstanding common stock pursuant to the merger agreement and other adjustments pertaining to the agreement's termination and escrow provisions.
As of 5:00 p.m. Eastern time on November 16, 2009, 18,462,006 shares of Trimeris' common stock were tendered in the tender offer, representing 82.72% of the outstanding shares of Trimeris' common stock.
The tender offer was originally scheduled to expire at midnight, New York City time, on Monday, November 16, 2009. The amendment provides an extension of the expiration date for the tender offer through 5:00 pm, New York City time, on Monday, December 28, 2009. The amendment also provides an extension of the outside date, the date after which either party may terminate the merger agreement if Arigene's wholly-owned subsidiary, RTM Acquisition Company, has not accepted and paid for all shares validly tendered and not properly withdrawn prior to such time, to January 31, 2010.
Pursuant to the amendment, Arigene also agreed that certain conditions to Arigene's obligation to accept for payment and pay for any shares of Trimeris' common stock tendered pursuant to the tender offer have been satisfied as of 5:00 pm, New York City time on the date of the amendment and irrevocably waived compliance with such conditions at the close of the tender offer as extended thereby. The waived conditions include requirements that at the time of acceptance and payment for tendered shares of Trimeris' common stock that the represent
|SOURCE Arigene Co., Ltd.|
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