An investigation for shareholders in NASDAQ:OCAT shares in connection with the proposed takeover was announced and NASDAQ:OCAT stockholders should contact the Shareholders Foundation.
San Diego, CA -- (SBWIRE) -- 12/14/2015 -- An investigation for shareholders in shares of Ocata Therapeutics Inc was announced concerning the takeover of Ocata Therapeutics Inc by Astellas Pharma Inc.
Marlborough, MA based Ocata Therapeutics, Inc., formerly Advanced Cell Technology, Inc., is a biotechnology company focused on the development and commercialization of Regenerative Ophthalmology therapeutics.
Investors who purchased shares of Ocata Therapeutics Inc (NASDAQ:OCAT) and currently hold any of those NASDAQ:OCAT shares have certain options and should contact the Shareholders Foundation at mail@shareholdersfoundation.com or call 858-779-1554.
The investigation by a law firm concerns whether certain officers and directors of Ocata Therapeutics Inc breached their fiduciary duties owed to NASDAQ:OCAT investors in connection with the proposed acquisition.
On November 9, 2015, Astellas Pharma Inc. and Ocata Therapeutics Inc (NASDAQ:OCAT) announced that they have entered into an agreement. Under the agreement, Astellas Pharma Inc will acquire Ocata Therapeutics Inc (NASDAQ:OCAT) through Laurel Acquisition Inc., a wholly-owned subsidiary of Astellas US Holding, Inc. . Pursuant to the agreement, Laurel Acquisition Inc will commence a tender offer for all outstanding shares of common stock of Ocata Therapeutics Inc (NASDAQ:OCAT), for a price of US$8.50 per share in cash.
However, the investigation concerns whether the offer is unfair to NASDAQ:OCAT stockholders. More specifically, the investigation concerns whether the Ocata Therapeutics Board of Directors undertook an adequate sales process, adequately shopped the company before entering into the transaction, maximized shareholder value by negotiating the best price, and acted in the shareholders' best interests in connection with the proposed sale.
On December 10, 2015, shares of Ocata Therapeutics Inc (NASDAQ:OCAT) closed at $8.48 per share.
Those who are current investors in Ocata Therapeutics Inc (NASDAQ:OCAT) shares have certain options and should contact the Shareholders Foundation.
Contact:
Shareholders Foundation, Inc.
Michael Daniels
3111 Camino Del Rio North - Suite 423
92108 San Diego
Phone: +1-(858)-779-1554
Fax: +1-(858)-605-5739
mail@shareholdersfoundation.com