VBI Vaccines Inc (VBIV): Towards the end of last year, we got wor...

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JordieSands

Re: jasonstocktrader post# 155

Thursday, 10/15/2015 11:09:10 AM

Thursday, October 15, 2015 11:09:10 AM

Towards the end of last year, we got word that Dr Phillip Frost, chairman and CEO of Opko Health, Inc. (OPK), was looking to restructure then private company SciVac (now SciVac Therapeutics Inc. (SVACF)) into a public entity. Little more was heard of the matter until March 2015, when gold and precious metals exploration company Levon Resources Ltd announced that it had entered into an agreement pursuant to which Levon would acquire 100% of the issued and outstanding ordinary shares of SciVac. OPKO had a 45% stake in SciVac, and so the deal would see current SciVac owners take 68.4% of the outstanding shares of the new company after its close, and Opko take a little over 30%. At first glance the arrangement can seem a little bit convoluted, but a closer look reveals it is very similar in structure to a number of other public shell spins Frost has orchestrated in the past.

http://finance.yahoo.com/news/frost-closes-scivac-deal-potential-041100739.html