Arch Biopartners, Arch Biotech Inc. deal

Investment company Arch Biopartners (formerly Foccini International Inc.) exercised its option to acquire Arch Biotech and two IP-holding entities in a stock deal valued at C$9 million ($8.7 million). Arch Biopartners issued 14.2 million shares to Arch Biotech shareholders; 2.1 million shares to shareholders of 1495628 Alberta Ltd.; and 1.7 million shares to shareholders of 1502440 Alberta Ltd. All shares were issued at C$0.50. The price is a 100% premium to Arch Biopartners close of C$0.25 on Sept. 17, 2009, the day before Arch Biopartners announced it would exercise its option for Arch Biotech. ...