Apex Bioventures Acquisition (stock symbol: [t]PEX[/t]), which raised $69 million when it went public in June 2007, has announced that it has signed a letter of intent to acquire an unidentified company. It has until June 13, 2009 to complete the transaction.
Apex Bioventures Acquisition Corporation Signs Letter of Intent for Business Combination
Monday December 15, 10:58 am ET
HILLSBOROUGH, Calif., Dec. 15 /PRNewswire-FirstCall/ -- Apex Bioventures Acquisition Corporation (Amex: PEX - News) announced today that, on December 13, 2008, it entered into a letter of intent with a company for a business combination. The parties to the letter of intent are currently conducting due diligence and anticipate signing a definitive agreement within the next 45 days. Apex will make an additional announcement in the event it enters into such a definitive agreement. Pursuant to the provisions of Apex's Second Amended and Restated Certificate of Incorporation, Apex now has until June 13, 2009 to complete a business combination. If Apex is unable to complete a business combination by June 13, 2009, it will then liquidate.
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