Somaxon Pharmaceuticals, Inc. (SOMX)

[surf1944]

7:01AM Somaxon Pharma to be acquired by Pernix Therapeutics (PTX); Somaxon shareholders to receive $25 mln in Pernix Common Stock (SOMX) 1.47 : Under the terms of the agreement, which has been unanimously approved by the boards of directors of both companies, Somaxon stockholders will receive aggregate consideration equal to $25 mln in Pernix common stock. The number of shares of Pernix common stock to be issued to the stockholders of Somaxon will be based on the volume-weighted average price of Pernix's common stock over the 30 day period ending on the day immediately prior to the closing of the proposed merger, subject to limitations on the maximum and minimum number of shares of Pernix common stock issuable in the transaction based on a price range of $6.00 to $9.00 per share.