ARTICLE | Company News

Boston Life, Greenwich Pharmaceuticals Inc. deal

November 21, 1994 8:00 AM UTC

The reverse merger would have made Boston Life Sciences a public company through an all-stock transaction in which 35 million shares of GPRI would have been issued to the private company. The new entity would have had almost 70 million shares outstanding.

Randall told BioCentury that although the change in the litigation settlement provides Boston Life Sciences the right to renegotiate the deal, the settlement terms are "substantially the same" as the previous one. Nevertheless, GRPI said, Boston Life Sciences has proposed new terms "substantially more costly to our current stockholders." ...