Tuesday, May 19, 2020 8:40:19 AM
Ritter Pharmaceuticals, Qualigen All-Stock Merger Deal Gets Shareholder OK
08:37 AM EDT, 05/19/2020 (MT Newswires) -- Ritter Pharmaceuticals (RTTR) said Tuesday its all-stock merger deal with Qualigen has received approval from Ritter stockholders and should be consummated in the next few days.
Under the agreement, pre-merger Ritter Pharmaceuticals stockholders will own approximately 7.5% of the post-merger combined company. On the other hand, the pre-merger Qualigen stockholders will own approximately 92.5% of the post-merger combined company on a fully-diluted basis.
Prior to closing, the company will change its name to Qualigen Therapeutics and continue trading on Nasdaq Capital Market under the symbol "QLGN."
On a side note they did say before"Ritter stockholders should also be aware that they will not be subject to a lock-up period following the merger.”
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