OBLN - Obalon is up 76% after announcing merger with ReShape Lifesciences

Obalon Therapeutics (OBLN) is up ~75.8% after announcing a merger agreement with ReShape Lifesciences in an all-stock deal whereby the existing ReShape stockholders will have a majority of the ownership of the combined company that will be renamed as ReShape Lifesciences Inc.Following the completion of the merger, ReShape Lifesciences will trade under the NASDAQ ticker symbol "RSLS," and the agreement has already been approved by the boards of directors of both companies, an announcement from ReShape Lifesciences said.The transaction subject to certain closing conditions, including the approval by the ReShape and Obalon stockholders, and NASDAQ Stock Market will see current directors and officers of ReShape comprising the board of directors and executive management of the combined company.As per the merger terms, each share of common stock and each share of Series B Preferred Stock of ReShape will be converted into the right to receive a number of fully paid and non-assessable shares of

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Obalon is up 76% after announcing merger with ReShape Lifesciences