ARTICLE | Company News

Power3, StemTroniX Inc. deal

February 22, 2010 8:00 AM UTC

Power3 will acquire StemTroniX in a stock deal valued at $90 million based on Power3's close price of $0.09 on Feb. 10, the day before the deal was announced. StemTroniX shareholders will receive 14.6 shares of Power3 stock for each StemTroniX share held. The companies partnered to discover biomarkers to identify stem cells that may be used as therapeutics under a 2008 deal. Power3 said the acquisition allows it to add StemTroniX's adult stem cell technologies to its protein biomarker programs. The deal, which is subject to approval by both companies' shareholders, is expected to close in April. ...