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Isoray, Inc. (NYSE:ISR), a medical technology company and innovator in seed brachytherapy, today announced that it has entered into a definitive agreement to acquire Viewpoint Molecular Targeting, Inc. (Viewpoint) a precision oncology company developing alpha-particle therapies and complementary diagnostic imaging agents.
Under the terms of the agreement, a newly formed wholly owned subsidiary of Isoray will merge with and into Viewpoint, with Viewpoint becoming a wholly owned subsidiary of Isoray. At the effective time of the merger, each issued and outstanding share of common stock of Viewpoint will be converted into the right to receive 3.3212 shares of Isoray common stock. Other than cash paid in lieu of fractional shares, there will be no cash consideration paid in connection with the merger. Following completion of the merger, the stockholders of Viewpoint will own 49% of the fully diluted outstanding capital stock of Isoray.
The merger is subject to approval by the shareholders of both Isoray and Viewpoint along with other customary closing conditions and any necessary governmental or regulatory approvals. Upon closing, the size of Isoray’s board of directors will increase to 5 with 3 directors to be designated by Isoray and 2 directors to be designated by Viewpoint. Lori Woods will be one of the directors and will serve as the chairperson. Thijs Spoor, Viewpoint’s current CEO, will be one of the directors and will serve as Isoray’s new CEO.
Posted In: ISR
