AVI BioPharma Announces Close Of Ercole Biotech Acquisition

AVI BioPharma, Inc. (Nasdaq: AVII) announced the closing on March 20, 2008 of the previously announced merger transaction between AVI and Ercole Biotechnology Inc. Under the terms of the agreement, AVI is issuing $7.4 million in AVI common stock valued at $1.3161 per share in exchange for all outstanding shares of Ercole stock not already owned by AVI. In addition, AVI has assumed responsibility for $1.

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Filed under: Pharma Industry on April 2nd, 2008