Alliqua declares special dividend of $1.05 per share, sets spin-off record date

Alliqua has declared a special cash dividend of $1.05 for each share of common stock outstanding as of the close of business on April 22. Alliqua also set the record date as the record date for determining stockholders entitled to receive shares of AquaMed Technologies, which is currently a wholly-owned subsidiary of Alliqua, into a new, publicly traded company, in connection with Alliqua’s spin-off of AquaMed The payment of the special dividend is subject to the consummation of Alliqua’s merger transaction with Adynxx, a privately held biopharmaceutical company. In addition, the distribution is subject to the satisfaction of all conditions to closing of the merger transaction between AquaMed and TO Pharmaceuticals and the substantially simultaneous consummation of the TOP Merger. It is currently expected that the payment date for the special dividend and the distribution date for the distribution will be as soon as practicable after satisfaction of the special dividend condition and the distribution condition, as applicable, and in each case, no later than June 21.

https://thefly.com/landingPageNews.php?id=2891644