I believe the management of TBIO would at least want to renegotiate the terms of the merger or may decide to cancel it altogether. TBIO shareholders have not had a chance to vote on the merger yet. The TBIO shareholders already approved a reverse split of up to 1 for 30. For example, TBIO management could complete a 10 to 1 reverse split now and based on the current share price, the remaining shares would be worth around $8.00 each after the reverse split. This would give some institutional investors and others that don't buy shares under $5.00 a share a chance to buy shares. Based on the news that came out today and the limited number of shares that would be available, the price per share would skyrocket IMO.
Go TBIO!!!
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