PR Newswire • 3 months agoVirtualScopics, Inc. Board Determines Gastineau Partners Proposal Not Reasonably Expected to Lead to a Superior Company Proposal
ROCHESTER, N.Y., May 9, 2016 /PRNewswire/ -- VirtualScopics, Inc. (VSCP), a leading provider of clinical trial imaging solutions, announced today that its Board of Directors, in consultation with its legal and financial advisors, has determined that an unsolicited proposal from a group identifying itself as Gastineau Partners, LLC, to acquire an uncertain number of shares of the Company's outstanding common and preferred stock and purchase newly issued preferred stock at an undetermined price and unspecified rights, preferences and privileges, would not reasonably be expected to lead to a Superior Company Proposal under the terms of its merger agreement with BioTelemetry, Inc. (NASDAQ:BEAT). The Company received the proposal from Gastineau Partners on May 5, 2016, the same day in which Gastineau Partners issued a press release announcing the offer. The Company then contacted Gastineau Partners' representatives solely to clarify the terms of the proposal. The group admitted it does not have committed financing for the purchase at this time. Additionally, under the terms of the proposal and through supplemental information provided by Gastineau Partners, the group would not be bound to acquire 75% or more of the voting power of the Company's outstanding capital stock as required for it to be a Superior Company Proposal under the BioTelemetry merger agreement. Furthermore, the price, rights, privileges and preferences of the newly issued preferred stock to be purchased would be decided only after tenders of common stock were completed. The group would not commit to signing a definitive agreement in less than 45 days.
Capital Cube • 5 months ago
Click here to see latest analysisVirtualScopics, Inc. reports financial results for the quarter ended December 31, 2015.We analyze the earnings along side the following peers of VirtualScopics, Inc. – Becton, Dickinson and Company, Arrhythmia Research Technology, Inc., Enzo Biochem, Inc., Bioanalytical Systems, Inc., NeoGenomics, Inc., Laboratory Corporation of America Holdings and CombiMatrix Corporation (BDX-US, HRT-US, […] (Read more...) The post VirtualScopics, Inc. :VSCP-US: Earnings Analysis: Q4, 2015 By the Numbers appeared first on CapitalCube.
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