TYME - Syros Tyme Technologies jump more than 20% after hours as shareholders approve merger
- Shareholders of Syros Pharmaceuticals ( NASDAQ: SYRS ) and Tyme Technologies ( NASDAQ: TYME ) on Thursday voted in favor of the merger between the two biotech companies.
- SYRS and TYME stock gained more than 20% each in aftermarket trading - SYRS +22% and TYME +24% .
- Both SYRS and TYME held special stockholder meetings to vote on the merger, the companies said in a statement .
- SYRS shareholders also voted in favor of the company's concurrent private investment in public equity (PIPE) financing.
- The closing of the merger and the PIPE financing are anticipated to take place on or around Sept. 16.
- Post the closing of the merger, the combined company will trade on the Nasdaq under the ticker symbol "SYRS".
- SYRS also announced a 1-for-10 reverse stock split, with the stock to begin trading on a split-adjusted basis on the Nasdaq on Sept. 19.
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Syros, Tyme Technologies jump more than 20% after hours as shareholders approve merger