Tripos to Buy Optive for $8M
Tripos last week said that it plans to acquire privately held discovery informatics firm Optive Research in a cash-and-stock transaction worth $8 million.
Tripos will issue 599,521 shares of its common stock and $4.75 million in cash to Optive’s shareholders. Tripos said that the cash portion will be funded through the issuance of $3.5 million of subordinated debt, 111,606 shares of common stock, and warrants to purchase 156,250 shares of common stock.
The acquisition is expected to close in January 2005.