www.fdanews.com/articles/69950-epimmune-idm-agree-to-merge-in-all-stock-transaction
Epimmune, IDM Agree to Merge in All-Stock Transaction
March 17, 2005
Epimmune, a developer of vaccines for cancer and infectious diseases, and privately held Immuno-Designed Molecules S.A., agreed to merge in an all-stock transaction. In a press release Wednesday, Epimmune said shareholders of IDM will receive about 3.77 shares of Epimmune common stock in exchange for each share of IDM. On Dec. 23, IDM sold about 2.1 million shares to certain existing shareholders for about $8.41 a share. If each share of IDM is exchanged for about 3.77 shares of Epimmune, those IDM shareholders will have paid about $2.23 per Epimmune share, which represents a premium of 70 percent to Epimmune's closing price on March 14, of $1.31 a share.