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Kuros to merge with Cytos to gain entry to the Swiss Stock Exchange

have both acquired access to Cytos' virus-like particle (VLP) technology, which they see as having a role in the treatment of cancer and hepatitis B, respectively.

https://www.fiercebiotech.com/financials/kuros-to-merge-cytos-to-gain-entry-to-swiss-stock-exchange

Kuros Biosciences is to acquire Xpand Biotechnology by way of a share-swapping deal structured as an exchange of all Xpand shares for up to 2.105 million new Kuros shares. A total of 1.36 million Kuros shares will be issued immediately upon the deal closing. Another 0.74 million Kuros shares will be issued on the achievement of product approval milestones. Kuros says that if all milestones are achieved its shareholders will own about 71% of the combined company. The transaction has been approved by both firms’ boards of directors.

Kuros Biosciences was formed by the merger of Cytos Biotechnology and Kuros Biosurgery Holdings in January 2016.

https://www.genengnews.com/topics/translational-medicine/kuros-acquires-xpand-to-form-orthobiologics-firm-with-bone-graft-substitute/

The combined company will be led by the existing Kuros executive management team with Kuros' CEO, Didier Cowling, taking the role of new group CEO, Alistair Irvine as Chief Business Officer and Jason Schense as Chief Technology Officer. All current members of the Cytos management staff will cease their executive roles when the combination is completed.

Under the terms of the proposed combination, each Kuros share outstanding will convert into approximately 27 newly issued Cytos shares. In addition, existing options and conversion rights for Kuros shares are expected to be rolled over into comparable rights for Cytos shares. Following closing, the current shareholders of Cytos will own approximately one-fifth and Kuros' shareholders will hold approximately four-fifths of the outstanding shares of the combined company. In addition, existing options and warrants for Cytos shares and roll-over options and conversion rights replacing rights for Kuros shares are expected to make up a total of approximately 15.5% of the outstanding share capital of the combined company post-closing. Options and warrants of around 8.6% of the outstanding share capital post-closing are expected to be in the money at closing.

At the extraordinary shareholders' meeting of Cytos, planned for January 2016, the Cytos Board proposes to its shareholders to issue around 392 million new shares to the Kuros shareholders. Furthermore the roll-over of options and warrants granted by Kuros will require an increase of the conditional capital of Cytos by around 50 million shares and of the authorized share capital by around 9 million shares. The Board also proposes at this extraordinary shareholders' meeting the election of new members of the Board and certain other resolutions, such as the change of name of Cytos to Kuros Biosciences AG.

https://www.prnewswire.com/news-releases/cytos-biotechnology-and-kuros-biosurgery-to-combine-to-create-kuros-biosciences-560286951.html

Mr K's options :?