NEW YORK (GenomeWeb) – Amarantus Bioscience Holdings announced today that it has signed a letter of intent to merge its Amarantus Diagnostics subsidiary with Avant Diagnostics.
Upon the close of the merger, Avant will issue Amarantus Bio 80 million shares of its common stock, representing roughly 45 percent of the combined company’s outstanding shares. Avant will also issue Amarantus Bio 10 million additional shares upon the achievement of undisclosed sales milestones. Amarantus will further have the right to appoint two directors to Avant’s board.
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