Lpath Inc
* Apollo endosurgery and lpath sign merger agreement
* Apollo security holders are expected to own approximately 95.8 percent of combined company
* Lpath inc says under agreement, lpath will issue new shares of its common stock or rights to acquire its common stock to apollo security holders
* Lpath security holders are expected to own approximately 4.2 percent of combined company
* Lpath inc says boards of directors of both lpath and apollo have unanimously approved transaction
* Concurrent with closing of merger, apollo’s major investors have committed to invest approximately $29 million of new equity in combined company
Lpath inc says upon closing of transaction lpath will be renamed apollo endosurgery, inc
* Directors and executive officers of lpath will resign from their positions with lpath upon closing of proposed merger
* Corporate headquarters will be located in Austin, tx
* Directors of combined company is expected to consist of nine members all of whom will be designated by apollo Source text for Eikon: Further company coverage:
Recent Articles on M&A
Source: Reuters.com