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Tripos Ceases Trading, Begins Liquidation of Assets

NEW YORK (GenomeWeb News) - Tripos yesterday ceased trading its shares and began to liquidate its assets, moves which are in line with plans the company laid out after selling both of its revenue-generating businesses earlier this year.
 
Tripos sold its Discovery Research business to Commonwealth Bio in May for as much as $2.15 million and it sold its Discovery Informatics business to Vector Capital in March for $26 million. 
 
Today, Mellon Investor Services will begin an initial a distribution of $.47 a share to Tripos shareholders.
 
Tripos said it has formed a liquidating trust that will dispose of remaining assets and liabilities following the initial distribution. The company estimates these assets to be worth around $4 million, primarily in cash.
In addition to the cash distribution, all shareholders will receive a "beneficial interest" in the liquidating trust.

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