NEW YORK (GenomeWeb News) – Wafergen Biosystems has amended an existing agreement with its Malaysian subsidiary and the Malaysian Technology Development Corporation to change certain rights and obligations related to certain classes of Wafergen Malaysia's stock.
MDTC is a venture capital and development firm and an investor in WaferGen Malaysia.
Among the changes disclosed in a document filed with the US Securities and Exchange agreement on Thursday, is one in which the period for MTDC to exercise its put option in respect to WaferGen Malaysia's Series A redeemable convertible preference shares was extended to April 3, 2014 from Dec. 31, 2011.
The period in which MTDC may exercise its put option with respect to WaferGen Malaysia's Series C redeemable convertible preference shares was also extended to April 3, 2014 from Dec. 20, 2011.
WaferGen will determine whether MTDC will receive cash or stock when MTDC exercises the put option in respect to the Series A redeemable convertible preference shares. If MTDC receives stock, the number of shares it receives will be determined by certain conditions, it said in its SEC filing.