New York, 2017-May-02 — /EPR BIOTECH NEWS/ — S-Acquisition Corporation is today commencing its tender offer for all 10,000,000 shares of Second Round financing of Common Stock of Astra Logics Inc., Hong Kong, at a price of US$7.00 per share, payable in cash. The offer, which has been unanimously approved and recommended by Astra Logic’s Board of Directors is being made pursuant to the agreement between the two companies.
The tender offer, which is currently scheduled to expire at 12:00 midnight EST on Thursday, June 1st, 2017 (unless extended) is subject to the tender by Astra Logic’s shareholders and would represent a majority of the outstanding shares on a fully diluted basis, as well as other customary conditions.
Astra Logics, Inc. aims to become a leader in advanced drug delivery systems with Graphine Oxide being the key component. After extensive research and testing the firm’s proprietary protocols are now nearing completion of initial phase clinical trials in Hong Kong. Ken Holland, Head of Corporate Affairs for Astra Logics said, “When completed, this tender offer provides the company with substantial cash reserves allowing for continued product development. Institutional sponsorship is critical to strengthening our market position for the long term”.
S-Acquisition Corp’s Director of Bio-Pharm Transactional Services, Mr. Craig Kirkman, stated “Astra Logics’ unique delivery platform offers tremendous upside potential in a sector providing boundless opportunity for return. Our firm shares the same long-term vision and commitment necessary to allow the company to progress”.
About S-Acquisition Corp.
S-Acquisition Corp. is a global corporate advisory with expertise in mergers and acquisitions, capital markets, financial restructuring, valuation, and strategic consulting. The firm serves corporations, institutions, groups and individuals worldwide and has its headquarters located in the United States.
About Astra Logics, Inc.
Astra Logics, Inc. is an independent biotech firm based in Hong Kong with a focus on the research and development of Nano-particle, bio-therapeutic drug delivery systems for the treatment of cancerous tumors, in particular lung cancer. The firm’s core objective is to deliver highly innovative cancer therapies that currently have few, if any, effective treatment options.
Contact-Details: S-Acquisition Corp.
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