Palo Alto – September 13, 2016 – Cooley advised Apollo Endosurgery on its merger agreement with Lpath. The Apollo security holders are expected to own approximately 95.8 percent of the combined company and the Lpath security holders are expected to own approximately 4.2 percent of the combined company, subject to adjustments as described in the merger agreement. The deal is expected to close in the fourth quarter.
Apollo is a medical device company focused on less invasive therapies for the treatment of obesity, a condition facing over 500 million people globally, as well as other gastrointestinal disorders.
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"VC-backed Apollo Endosurgery and Lpath to Merge," PEHub