(Alliance News) - Shares in Amryt Pharma PLC were suspended on Tuesday over its acquisition of Aegerion Pharmaceuticals Inc, which is considered a reverse takeover under AIM rules.
Amryt has submitted an application for re-admission to AIM, with the date of admission expected to be Wednesday.
On September 11, the US Bankruptcy Court for the Southern District of New York confirmed Aegerion Pharmaceuticals' reorganisation plan, effective Tuesday. Amryt is thus clear to make the acquisition of reorganised biopharmaceutical firm Aegerion.
Upon admission, 1.0 million shares will be issued by Amryt to settle Aegerion's disputed chapter 11 bankruptcy claims. The combined company's expected market capitalisation on admission will be USD282 million.
By Anna Farley; annafarley@alliancenews.com
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