SDIX Stockholders Approve Sale of Life Science Assets to OriGene Technologies, Inc.

SDIX Stockholders Approve Sale of Life Science Assets to OriGene Technologies, Inc.

NEWARK, Del.--(BUSINESS WIRE)-- SDIX™ (Nasdaq: SDIX  ) , a leading provider of biotechnology-based products and services, today announced the results of its Special Meeting of Stockholders held today. The Company reported that more than 65% percent of the outstanding shares entitled to vote thereon voted to approve the sale of the assets of the Company’s Life Sciences and Advanced Technologies businesses to a wholly owned subsidiary of OriGene.

Stockholders today also voted to approve all of the additional proposals, including the amendment of the Company’s certificate of incorporation to change the Company’s name to Special Diversified Opportunities Inc. effective upon completion of the asset sale, as well as a non-binding proposal regarding certain transaction-related executive compensation arrangements.

The Company and OriGene expect to close the transaction on July 12, 2013.

This news release may contain forward-looking statements reflecting SDIX’s current expectations. When used in this press release, words like “anticipate”, “could”, “enable”, “estimate”, “intend”, “expect”, “believe”, “can”, “potential”, “will”, “should”, “project”, “plan” and similar expressions as they relate to SDIX are intended to identify said forward-looking statements. Investors are cautioned that all forward-looking statements involve risks and uncertainties, which may cause actual results to differ from those anticipated by SDIX at this time. Such risks and uncertainties include, without limitation, changes in demand for products, the application of our technologies to various uses, delays in product development, delays in market acceptance of new products, retention of customers and employees, adequate supply of raw materials, inability to obtain or delays in obtaining fourth party, or required government approvals, the ability to meet increased market demand, competition, protection of intellectual property, non-infringement of intellectual property, seasonality, and other factors more fully described in SDIX’s public filings with the U.S. Securities and Exchange Commission.



SDIX
Kevin Bratton
Vice President & Chief Financial Officer
302-456-6789
kbratton@sdix.com

KEYWORDS:   United States  North America  Delaware

INDUSTRY KEYWORDS:

Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.


Read/Post Comments (0) | Recommend This Article (0)

Comments from our Foolish Readers

Help us keep this a respectfully Foolish area! This is a place for our readers to discuss, debate, and learn more about the Foolish investing topic you read about above. Help us keep it clean and safe. If you believe a comment is abusive or otherwise violates our Fool's Rules, please report it via the Report this Comment Report this Comment icon found on every comment.

Be the first one to comment on this article.

Sponsored Links

Leaked: Apple's Next Smart Device
(Warning, it may shock you)
The secret is out... experts are predicting 458 million of these types of devices will be sold per year. 1 hyper-growth company stands to rake in maximum profit - and it's NOT Apple. Show me Apple's new smart gizmo!

DocumentId: 2531022, ~/Articles/ArticleHandler.aspx, 11/27/2014 12:36:09 AM

Report This Comment

Use this area to report a comment that you believe is in violation of the community guidelines. Our team will review the entry and take any appropriate action.

Sending report...