Motion DNA Signs Agreement With Formula 51-2, for a Buy-Out of All Outstanding Shares for a Final Price of $3.125 Per Share! Tuesday May 3, 11:10 am ET
PHOENIX, May 3 /PRNewswire-FirstCall/ -- Motion DNA Corporation (Pink Sheets: MTDX - News), announced today that it has signed an agreement with Formula 51-2, LLC for a buyout of all its outstanding shares. The deal with a total value of $74.6 Million will become effective on May 23, 2005, after the company's required shareholder meeting to vote on the issue.
ADVERTISEMENT After meeting on Thursday, representatives of both companies agreed upon a price of $3.125 for each share of the company. The final agreement has now been signed and a formal vote on the issue by Motion DNA shareholders is scheduled. ___________________________________________________________
The way I see it, the agreement is the answer to your questions. They agreed to buy all outstanding shares at $3.125
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