Yes, take this as an example: Nasdaq biotech co
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Posted On: 03/31/2017 1:25:54 PM
Yes, take this as an example:
Nasdaq biotech company ABC just bombed out of clinical trials. They only had 1 item in their pipeline, so now the stock is selling for pennies and Nasdaq tells them they will be bumped down to OTC in 90 days.
OWCP could come in and swap all the assets with ABC. So on the effective date of the reverse merger, ABC is now on OTW, with a ticker change, and OWCP is now on Nasdaq with ticker change. Win Win.
The reason ABC would do this is to get some cash. It was going to OTC anyway.
Nasdaq biotech company ABC just bombed out of clinical trials. They only had 1 item in their pipeline, so now the stock is selling for pennies and Nasdaq tells them they will be bumped down to OTC in 90 days.
OWCP could come in and swap all the assets with ABC. So on the effective date of the reverse merger, ABC is now on OTW, with a ticker change, and OWCP is now on Nasdaq with ticker change. Win Win.
The reason ABC would do this is to get some cash. It was going to OTC anyway.
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