On Monday, in the course of Morning trade, Shares of Perfect World Co., Ltd. (NASDAQ:PWRD), gained 2.59%, and is now trading at $19.
Perfect World, declared that it has reached a contract and Plan of Merger with Perfect Peony Holding Company Limited, an exempted company with limited liability incorporated under the laws of the Cayman Islands and beneficially owned by Mr. Michael Yufeng Chi, the Company’s founder and chairman of the board of directors, and Perfect World Merger Company Limited, a wholly owned partner of Parent.
Subject to satisfaction of the Merger Agreement’s terms and conditions, Merger Sub will merge with and into the Company, with the Company ongoing as the surviving corporation and a wholly owned partner of Parent. Following the Merger Agreement, at the effective time of the Merger, each of the Company’s ordinary shares issued and outstanding right away preceding to the effective time of the Merger will be cancelled and cease to exist in exchange for the right to receive US$4.04 in cash without interest, and each American Depositary Share of the Company, which represents five class B ordinary shares, will be cancelled in exchange for the right to receive US$20.20 in cash without interest, except for (a) Shares, counting such Shares represented by the ADSs, held by entities controlled by Mr. Michael Yufeng Chi, Parent, the Company or any of their auxiliaries, which will be cancelled and cease to exist and no payment or distribution will be made with respect thereto, and (b) Shares held by shareholders who have validly exercised and not effectively withdrawn or lost their rights to dissent from the Merger following Section 238 of the Companies Law of the Cayman Islands, which will be cancelled and cease to exist in exchange for the right to receive the payment of fair value of the Dissenting Shares in accordance with Section 238 of the Companies Law of the Cayman Islands. The merger consideration represents a premium of 28.2% over the Company’s closing price of US$15.76 per ADS on December 31, 2014, the last trading day preceding to the Company’s declaration of its receipt of a “going-private” proposal.
Mr. Michael Yufeng Chi intends to fund the Merger with the proceeds from a committed loan facility in the amount of US$900 million arranged by China Merchants Bank Co., Ltd., New York Branch, China Merchants Bank Co., Ltd., Offshore Banking Center and Wing Lung Bank, following a debt commitment letter.
Perfect World Co., Ltd., through its auxiliaries, operates as an online game developer and operator in the People’s Republic of China, North America, and internationally. The company develops online games based on its proprietary game engines and development platforms.
Shares of iBio, Inc. (NYSEMKT:IBIO), gained 8.50%, and is now trading at $1.16.
Today, iBio has engaged Caliber Biotherapeutics LLC to scale-up and produce materials for clinical development of the first of iBio’s proprietary anti-fibrosis products, IBIO-CFB03. Caliber’s production will be used for IND-enabling toxicology studies and initial human clinical trials of IBIO-CFB03.
iBio is the exclusive worldwide license of the patents developed by Dr. Carol Feghali-Bostwick for therapies against fibrotic diseases. Dr. Feghali-Bostwick, the inventor of IBIO-CFB03, is collaborating with iBio for the development of various applications of her invention to address systemic sclerosis, idiopathic pulmonary fibrosis, and scleroderma. She is the Kitty Trask Holt Endowed Chair and Professor of Medicine in the Division of Rheumatology and Immunology at the Medical University of South Carolina where iBio anticipates the first human clinical trials of IBIO-CFB03 to be conducted.
The expansion in 2014 of iBio’s exclusive technology partnership with Novici Biotech LLC broadened iBio’s fibrosis therapeutics program through a combination of the strengths of iBio’s proprietary iBioLaunch™ platform technology with Novici’s patented optimization technology. iBio then engaged CBR International Corporation for planned regulatory and clinical services and assembled a Clinical Advisory Board of internationally recognized experts in fibrotic diseases to assist the company in clinical product development and human trial design.
iBio, Inc., a biotechnology company, focuses on the commercialization of its proprietary plant-based protein expression technologies in the United States and internationally. Its proprietary technologies comprise iBioLaunch, a transformative platform technology for the development and production of therapeutic proteins and vaccines.
Shares of The Spectranetics Corporation (NASDAQ:SPNC), during its Monday’s current trading session surged 3.02%, and is now trading at $27.32.
The Spectranetics Corporation, stated financial results for the three months ended March 31, 2015. Highlights of the quarter, all contrast with the three months ended March 31, 2014 comprise:
- Revenue of $57.4 million, up 45% (47% constant currency1)
- Vascular Intervention revenue of $36.5 million grew 82% (84% constant currency)
- S. peripheral atherectomy revenue grew 16%
- AngioSculpt(R) revenue of $14.0 million achieved
- Lead Administration revenue of $16.4 million raised 14% (16% constant currency)
- S. revenue grew 53% to $48.6 million; International revenue grew 12% (24% constant currency) to $8.8 million
- Record placements of 54 laser systems
- Stellarex program expands to below the knee (BTK) market; Investigational Device Exemption (IDE) discussions underway with FDA; Stellarex BTK European launch planned in late 2016
- CE submission on Drug-Coated Coronary AngioSculpt(R); targeting mid-2016 European launch.
The Spectranetics Corporation, together with its auxiliaries, develops, manufactures, markets, and distributes single-use medical devices used in minimally invasive procedures in the cardiovascular system. Its products are used to cross, prepare, and treat arterial blockages in the legs and heart, and to remove pacemaker and defibrillator cardiac leads.
Shares of StemCells Inc. (NASDAQ:STEM), dropped -0.74%, and is now trading at $0.61.
StemCells, declared that Martin McGlynn, CEO of StemCells, Inc., will take part on a panel moderated by Alice Park, writer for TIME Magazine, at the inaugural World Medical Innovation Forum to be held in Boston, April 27-29, 2015. The expert panel members will talk about central nervous system therapies that use healthy cells, tissues or organs—or those created with 3D bioprinters—to replace damaged ones. The panel is planned for 9:25 a.m. EDT on Tuesday, April 28, in the Biogen Ballroom at The Westin Copley Place, 10 Huntington Ave, Boston.
StemCells, Inc., a biopharmaceutical company, researches, develops, and commercializes cell-based therapeutics and related technologies for stem cell-based research and drug discovery and development.
Finally, Kosmos Energy Ltd. (NYSE:KOS), gained 10.93% Friday.
Today, Kosmos Energy declared that the Special Chamber of the International Tribunal of the Law of the Sea (ITLOS) has issued its order in response to the provisional measures requested by the Government of Côte d’Ivoire in its ongoing maritime boundary dispute with the Government of Ghana.
Importantly, ITLOS rejected the request that Ghana suspend all ongoing exploration and development operations in the disputed area in which the Tweneboa, Enyenra, and Ntomme (TEN) project is situated until ITLOS gives its decision on the maritime boundary dispute, which is predictable in late 2017. ITLOS ordered Ghana to suspend new drilling in the disputed area.
Kosmos is not a party to this arbitration process and will now await a decision by the Government of Ghana on how it will implement the provisional measures order. However, we fully expect TEN development activities will continue as planned.
The project is now more than 55 percent complete with all of the wells predictable to be online at first oil already drilled. First oil is predictable in the second half of 2016.
Kosmos Energy Ltd. explores for and produces oil and gas in Africa, Europe, and South America. Its asset portfolio comprises production and other development projects in offshore Ghana, in addition to exploration licenses with hydrocarbon potential in offshore Ireland, Mauritania, Morocco, Senegal, and Suriname. The company was founded in 2003 and is based in Hamilton, Bermuda.
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