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EnteroMedics buys ReShape Medical; shares ahead 30% premarket

Published 10/03/2017, 09:17 AM
© Reuters.  EnteroMedics buys ReShape Medical; shares ahead 30% premarket
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  • EnteroMedics (NASDAQ:ETRM) is up 30% premarket on robust volume on the heels of its announced acquisition of privately held ReShape Medical, the maker of the ReShape Dual Weight Loss Balloon for the treatment of obesity.
  • Under the terms of the agreement, ETRM will pay $5M in cash, 2,356,729 shares of common stock and 187,772 shares of series C convertible preferred stock that is convertible into 18,777,200 common shares if ETRM shareholders OK the deal. A special meeting will be scheduled by year-end.
  • Management will host a conference call this morning at 11:00 am ET to discuss the transaction.
  • Now read: EnteroMedics (ETRM) Presents At Ladenburg Thalmann 2017 Healthcare Conference - Slideshow


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