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Financings in Brief: Neoprobe

This article was originally published in The Gray Sheet

Executive Summary

Neoprobe: Adopts pre-emptive shareholder rights plan designed to protect the interests of its shareholders in the event of a "coercive or unfair takeover" attempt. Under the plan, one right will be distributed for each share of common stock on Aug. 28. "Each right entitles stockholders to purchase one-hundredth of a share of a special series of preferred stock at an exercise price of $35," the firm states. The exercise price could be modified "if someone acquires or tenders for 15% or more of the company's common stock." Neoprobe is developing its RIGS system for diagnosis and treatment of cancer ("The Gray Sheet" April 10, In Brief)...

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