October 17, 2017 / 12:53 PM / a year ago

BRIEF-Neothetics Inc and Evofem Biosciences Inc announce merger agreement to create Women’S health company

Oct 17 (Reuters) - Neothetics Inc

* Neothetics Inc and Evofem Biosciences, Inc. announce merger agreement to create Women’S health company

* Neothetics Inc - ‍privately-held Evofem Biosciences will merge with a wholly-owned subsidiary of Neothetics in an all-stock transaction​

* Neothetics - ‍Invesco Asset Management entered securities purchase agreement to acquire additional $20 million of common stock in combined Co​

* Neothetics Inc - ‍transactions have been approved by board of directors of both companies​

* Neothetics - Neothetics will be renamed Evofem Biosciences and will be under leadership of Evofem Biosciences' CEO Saundra Pelletier​

* Neothetics Inc - merger ‍exchange ratio assumes $171.4 million in value of Co's common stock will be issued to Evofem Biosciences stockholders in merger​

* Neothetics - current Neothetics stockholders to own about 13% of combined company & current Evofem stockholders to own about 87% of combined company​

* Neothetics Inc - ‍merger exchange ratio assumes $28.6 million in value of common stock being retained by Neothetics stockholders​

* Neothetics Inc - ‍following merger, company will be led by Saundra Pelletier as chief executive officer​ Source text for Eikon: Further company coverage: (Bangalore.newsroom@thomsonreuters.com)

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