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- Aptevo Therapeutics common stock approved for listing on the NASDAQ Global Select Market
Emergent also announced that NASDAQ has approved the listing of Aptevo Therapeutics common stock on the NASDAQ Global Select Market. Beginning
The distribution of Aptevo common stock will be made in book-entry or certificated form and no action or payment by Emergent stockholders is required to receive shares of Aptevo common stock. An information statement containing details of the separation and important information about Aptevo will be mailed to Emergent stockholders prior to
Trading of Emergent and Aptevo Common Stock
There is currently no market for Aptevo common stock. NASDAQ has advised that on
Emergent will continue to trade on the
Stockholders who sell their shares of Emergent common stock in the "regular way" market, which is the normal trading market on the
Stockholders who sell their shares of Emergent common stock in the "when issued" market, which is the ex-distribution market on the
The distribution of Aptevo common stock is subject to the satisfaction or waiver of certain conditions including, but not limited to, the completion of an internal reorganization, the receipt of an opinion of tax counsel and the other conditions summarized in the Form 10. The transaction does not require approval from Emergent stockholders. The Form 10 includes as Exhibit 2 a preliminary form of a Separation and Distribution Agreement, which includes the conditions to the distribution. Those filings are available at www.sec.gov.
Following the spin-off, Emergent will continue to develop and manufacture specialized products that safeguard against public health threats. Aptevo Therapeutics will be a biotechnology company focused on novel oncology and hematology therapeutics to meaningfully improve patients' lives. In addition to its core technology, the ADAPTIR™ (modular protein technology) platform, Aptevo will have four revenue-generating products in the areas of hematology and infectious diseases, as well as various investigational stage product candidates in immuno-oncology.
Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Any statements, other than statements of historical fact, including, without limitation, statements regarding the planned spin-off of
There are a number of important factors that could cause the company's actual results to differ materially from those indicated by such forward-looking statements, including whether the planned spin-off of Aptevo is completed, as expected or at all, and the timing of the spin-off; whether the conditions to the spin-off can be satisfied; and general market and economic conditions. The foregoing sets forth many, but not all, of the factors that could cause actual results to differ from our expectations in any forward-looking statement. Investors should consider this cautionary statement, as well as the risk factors identified in our periodic reports filed with the
Robert G. BurrowsVice President, Investor Relations 240-631-3280 BurrowsR@ebsi.com Media Contact: Tracey Schmitt LintottSenior Vice President, Global Public Affairs 240-631-3394 SchmittT@ebsi.com