Unconditional offer in relation to acquire the public entity
FORT LEE, VA / ACCESSWIRE / March 29, 2021 / Immune Pharmaceuticals Inc's (IMNPQ), (FZRQ.F) has received an unconditional offer to take over the public company.
Immune Pharmaceuticals Inc has today received an unconditional offer by United General LTD. (UK) to acquire control of Immune Pharmaceuticals Inc.'s public company.
The intent would be to reverse merge with a large pharmaceutical company once the takeover has completed.
The acquisition and substantial change of control will keep the existing public float in place after the change of control of the public entity has taken place, this will be reflected in the upcoming filings with the SEC.
United General's intention is to bring the public company current through filings with the SEC and then merge a new pharmaceutical project in to the company.
The proposal and legal direction of the new management team that has been discussed with the trustee for immune pharmaceuticals does not allow the new operating company to cancel exiting shares of the previous operating company's float.
The offer to acquire the Immune Pharmaceuticals public company is dependent on court and SEC approval. The process will begin in the coming days, It is United Generals intentions to begin filing with the SEC once possible.
There can be no assurance that any proposal will be accepted or approved by the SEC or by the bankruptcy court, and that any merger agreement can be executed or that any transactions with the trustee or legal council will be approved or consummated or challenged by any third party.
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SOURCE: Immune Pharmaceuticals Inc