realfast, if your calculation were correct, why in the world would Foamix or Menlo shareholders approve to have LESS than they both have now???
It is the value of the COMBINED two companies not just the value of MNLO ... think about what you are saying. You are implying that the only value of the combined companies is MNLO ... MNLO alone ??? No, that is not the case at all. Shorts may want you to believe this, but you need to contact investor relations for your own clarification, if you truly believe this to be true.
Here is what is stated by the companies : "After closing the deal, Foamix shareholders will own approximately 59% of the combined company and Menlo shareholders will own approximately 41% on a pro forma, fully diluted basis.
Further, Foamix shareholders will increase pro forma ownership of the combined company to upto 82% based on the results of the Phase III prurigo nodularis trials before May 31, 2020.
The combined company will be led by David Domzalski, CEO of Foamix and headquartered in New Jersey. The board of the combined company will consist of five members designated by Foamix and two members designated by Menlo, including Steve Basta, its CEO. Foamix Pharm and Menlo Therapeutics to merge - Quick Facts
Foamix Pharmaceuticals Ltd. (FOMX) and Menlo Therapeutics Inc. (MNLO) announced Monday that they have signed a definitive merger agreement to create a combined biopharmaceutical company focused on the commercialization and development of therapeutics to serve patients in the dermatology space. The Boards of Directors of both Foamix and Menlo have unanimously approved the transaction.
The transaction is expected to be completed in late first quarter or early second quarter of fiscal 2020. This will be subject to approval of the merger by Foamix shareholders, approval of the share issuance to Foamix shareholders by Menlo stockholders, as well as regulatory approvals and satisfaction of other customary closing conditions"
