XON "Strategic decisions regarding health business moving forward" They have some eclectic health assets with ZIOP being the frontrunner.
About 1 year ago, ZIOP issued XON about 110MM in preferred to be converted upon change of control or significant transaction with ZIOP and to gain an 80/20 split to ZIOP for all assets not encumbered (exception being Merck KCGA who has a 50/50 split for some CART assets. Thinking that they want to sell the health assets. That may explain Germano leaving now.
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