CANADA - The Caisse has acquired 401.54 million shares in Magistral Biotech through a reverse take-over.
The C$122bn Caisse de dépôt et placement du Québec said the acquisition occurred as Magistral entered into a share purchase agreement to acquire all of the issued and outstanding shares in the capital stock of Immunotec Research.
Following the transaction, Immunotec has become a wholly-owned subsidiary of Magistral.
“Immunotec in consideration of the issuance of such number of common shares in the capital stock of Magistral as will provide the shareholders of Immunotec a controlling interest in Magistral, resulting in a reverse take-over of Magistral," Caisse said in a release.
"The shareholders of Magistral also approved the consolidation of the outstanding shares of the Company on a 1 for 40 basis and the change of name of the company to Immunotec. The share consolidation, the change of name and the merger of Immunotec into the Company shall be effective before the end of the calendar year."
The transaction was made for investment purposes and Caisse said it could increase or decrease its investments in Magistral depending on market conditions "or any other relevant factor".
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