MERGERS & ACQUISITIONS

Imagin Molecular acquires shares of Positron for $35M


The shareholders of Imagin Molecular (IMGM) have approved, through the consent of more than 51 percent of shareholder vote, the acquisition of 3.1 million Class B preferred shares of Positron.

This position marked to the current market price for Positron’s common shares has a value in excess of $35 million, said the Hinsdale, Ill.-based IMGM.

Upon completion of the exchange of Positron preferred shares for IMGM common shares, IMGM said it will own the equivalent of more than 386 million Positron's common shares. Upon completion of this transaction, IMGM said it will have 405 million common shares outstanding with no significant debt or preferred stock outstanding.

IMGM also reported its intent to build cardiac disease reversal and prevention clinics across Canada named “Positron Cardiac CARE Clinics” and will base its imaging technology on Positron’s Attrius dedicated cardiac PET scanners.
Last updated on July 16, 2010 at 5:09 pm EST