Pharmiweb ChannelsAll | PharmaCo | Clinical Research | R&D/BioTech | Sales/Mktg | Healthcare | Recruitment | Pharmacy | Medical Comms RSS Feed RSS Feeds

Advertising today archive

2316 PWToday Stories

Intrexon Announces a Special Stock Dividend of Shares of AquaBounty Technologies

30 Dec 16

Intrexon Corporation, a leader in the engineering and industrialization of biology to improve the quality of life and health of the planet, today announced a special stock dividend of 53,296,710 shares of common stock of AquaBounty Technologies, Inc., subject to adjustment to reflect a 1:30 reverse stock split of AquaBounty's common stock that is expected to be implemented by AquaBounty prior to the distribution of the special stock dividend (the "Distribution").  The Distribution is expected to be made on January 18, 2017 (the "Distribution Date") to all Intrexon shareholders of record on January 9, 2017 (the "Record Date").

The Distribution will occur by way of a pro rata dividend on shares of Intrexon common stock outstanding at the close of business (i.e., 5:00 PM, New York City time) on the Record Date. On the Distribution Date, each of Intrexon's shareholders who held shares on the Record Date will receive a fraction of a share of AquaBounty common stock for every share of Intrexon's common stock that the shareholder holds.  The number of shares of AquaBounty common stock that each Intrexon shareholder of record will be entitled to receive will be calculated by dividing the total number of shares of AquaBounty common stock to be distributed by the total number of shares of Intrexon common stock outstanding at the close of business on the Record Date, multiplied by the total number of shares of Intrexon common stock the Intrexon shareholder holds at the close of business on the Record Date.  The shares of AquaBounty common stock will be issued in book-entry form only and fractional shares will not be issued in the Distribution. Shareholders will instead receive an amount in cash for such fractional interest.

"While biotechnology has provided significantly positive impacts in agriculture to help meet the ever-expanding challenge of feeding the world's growing population, AquaBounty's game-changing platform represents the first real contribution to aquaculture from advanced biotechnology.  AquaBounty's approach should enable efficient terrestrial farming of fish in an environmentally responsible manner, without damaging the oceans, to offer consumers a fresh, delicious Atlantic salmon that is generally free of antibiotics, vaccines and other treatments that are necessary to minimize infection in sea cages today," said Randal J. Kirk, Chairman and Chief Executive Officer of Intrexon.  "Following our previously announced capital investment, the listing of AquaBounty on NASDAQ will position it to focus on commencing commercial production in order to fully capitalize on the significant promise of its pioneering efforts that led to the FDA's first approval of an engineered food animal.  Through this dividend, we are pleased to provide direct participation by our shareholders in the future of AquaBounty as it executes its mi

Site Map | Privacy & Security | Cookies | Terms and Conditions is Europe's leading industry-sponsored portal for the Pharmaceutical sector, providing the latest jobs, news, features and events listings.
The information provided on is designed to support, not replace, the relationship that exists between a patient/site visitor and his/her physician.