Media Coverage
Source: Daily Journal
Media Coverage
Press Contacts: Erik Cummins, Matt Hyams, Olivia Thomas
11.04.16
Privately held biopharmaceutical company Miragen Therapeutics Inc. and molecular diagnostic company Signal Genetics Inc. are set to close a deal during the first quarter of next year that will merge the companies under Miragen’s name. The merger will make Miragen a publicly traded company. According to the terms of the deal, Miragen stockholders are expected to hold 96 percent of Signal’s outstanding common stock on a fully-diluted basis.
A syndicate of existing and new Miragen investors has committed to invest roughly $40 million into the new company. The total expected cash balance of the combined company will be more than $50 million upon the transaction’s close.
Miragen stockholders are expected to own about 69 percent of the combined company, excluding the shares issued to them in financing. Signal stockholders are expected to own around four percent, and the participating investors will own the remaining 27 percent.
Signal was advised in the deal by a Pillsbury team led by Emerging Growth & Venture Capital partner Mike Hird. The team also included partner Patty M. DeGaetano and special counsel Mustapha Parekh.