Allylix Acquisition

11/19/2014

M&A

Unknown

Under the terms of the agreement, Evolva will acquire 100% of the share capital of Allylix in return for an overall consideration of 46 million shares from Evolva's authorised capital (16.5% of Evolva's issued share capital before the transaction, 14.1% post-transaction). Part of these shares, currently estimated at approximately six million shares, will be sold over a period of time after closing, to offset certain liabilities and transaction expenses of Allylix. Further, 2.3 million shares will be held back for 18 months after closing to secure potential indemnification obligations of Allylix's security holders under the agreement. All other shares will be allocated to the Allylix security holders and will be subject to a staggered lock-up, such that the shares will be released in twelve tranches of approx. 3 million shares each, during the first year after the closing of the transaction. Evolva expects the newly created shares to be admitted to trading on the SIX Swiss Exchange by m

Acquired or Merged

Biopharmaceutical

7220 Trade St. 209
San Diego, CA 92121
USA

Allylix has developed proprietary technology that allows it to produce a group of natural products called terpenes at low cost.