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Re: DewDiligence post# 201902

Thursday, 09/08/2016 4:16:29 PM

Thursday, September 08, 2016 4:16:29 PM

Post# of 251272
LPTN reverse merges into Apollo Endosurgery:

http://finance.yahoo.com/news/apollo-endosurgery-lpath-sign-merger-200500581.html

Under terms of the agreement, Lpath will issue new shares of its common stock or rights to acquire its common stock to Apollo security holders. The Apollo security holders are expected to own approximately 95.8 percent of the combined company and the Lpath security holders are expected to own approximately 4.2 percent of the combined company [LOL]

Concurrent with the closing of the merger, Apollo's major investors have committed to invest approximately $29 million of new equity in the combined company, which will form part of the Apollo 95.8 percent ownership.

The directors and executive officers of Lpath will resign from their positions with Lpath upon the closing of the proposed merger, and the combined company will be under the leadership of Apollo's Newton and its current executive management team. Following the closing of the proposed merger, the Board of Directors of the combined company is expected to consist of nine members all of whom will be designated by Apollo...

Apollo Endosurgery, Inc. is a medical device company focused on less invasive therapies for the treatment of obesity, a condition facing over 500 million people globally, as well as other gastrointestinal disorders. Our device based therapies are an alternative to invasive surgical procedures, thus lowering complication rates and reducing total healthcare costs. Apollo's products are offered in over 80 countries today.

Rarely will you see a reverse merger where the company with the public listing (LPTN in this instance) ends up with a smaller equity stake than 4.2%. On the other hand, LTPN is a longstanding scam company, so they're getting such a thin slice of the pie is not that surprising.

CC at 4:30pm ET.

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