SDIX Stockholders Approve Sale Of Life Science Assets To OriGene Technologies, Inc.
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.
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