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BRIEF-Jaguar Animal Health to acquire Napo Pharmaceuticals
March 31, 2017 / 1:14 PM / 9 months ago

BRIEF-Jaguar Animal Health to acquire Napo Pharmaceuticals

March 31 (Reuters) - Jaguar Animal Health Inc-

* Jaguar Animal Health and Napo Pharmaceuticals enter definitive merger agreement

* Jaguar Animal Health - co’s stockholders and option and warrant holders will hold approximately 25% of total outstanding fully diluted equity of Jaguar

* Jaguar Animal Health - holders of Napo common stock immediately prior to merger will receive contingent rights to receive up to 21.5% of Jaguar’s shares

* Jaguar Animal Health - financial terms of merger include an approximate 3-to-1 Napo-To-Jaguar value ratio to calculate relative ownership of combined entity

* Jaguar Animal Health Inc - Napo entered into a settlement and discounted payoff agreement with one of its existing secured creditors

* Jaguar Animal Health - Napo agreed, upon deal closing to pay creditor $8 million in cash, certain shares of Jaguar voting and non-voting common stock

* Jaguar Animal Health Inc - proposed merger has been unanimously approved by boards of directors of both companies

* Jaguar Animal Health Inc - combined company will be under leadership of Jaguar’s current executive management team Source text for Eikon: Further company coverage:

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