Please refer to the acquisition literature linked below. You can skip right to the bottom of the page to the section "Transaction Terms and Timing"
I own GNVC stock. It was announced on Jan 24th, 2017 that the company will be acquired. The payment is via stock of the new company. At least that is what I think from reading the literature. I'm a bit confused.
I'm relatively new to investing, and this is the first time that one of the company which I invest in is being acquired. I bought GNVC share via Fidelity.com.
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When second quarter of 2017 roll around, are all my GNVC share in my Fidelity account automatically get converted to XON share? I will receive 0.297 of a share of Intrexon Common Stock in exchange for each share of GenVec common stock. I will have to do nothing. or
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When second quarter of 2017 roll around, all my GNVC share will be sold automatically at a value of XON'S 5-day volume weighted average price as of January 23, 2017.
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Lastly, what does this clause mean? GenVec stockholders will also receive a right to contingent consideration equal to 50% of any milestone or royalty payments received within 36 months after the closing of the transaction under GenVec's Research Collaboration and License Agreement with Novartis.
Thanks.
Acquisition term:
Submitted January 25, 2017 at 06:23AM by 012abc http://ift.tt/2jp3sVS
