Cortex Pharmaceuticals, Pier Pharmaceuticals deal

Cortex merged with Pier in a stock deal. Pier's former shareholders and vendors received about 58 million Cortex common shares, which are valued at about $4.1 million based on Cortex's close of $0.07 on Aug. 13, before the deal was announced. The shares represent about a 41% stake in the combined company. Cortex will issue additional shares if Cortex stock options and outstanding warrants are exercised after the deal closes. ...