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news.Ophthalmic Imaging Systems has signed a definitive merger agreement with MediVision Medical Imaging, a majority shareholder of Ophthalmic Imaging, under which MediVision will become a subsidiary of Ophthalmic Imaging in a stock transaction.
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At the effective time of the merger, each MediVision ordinary share will be converted into 1.66 shares of Ophthalmic Imaging Systems (OIS) common stock, for a total of approximately 11.3 million shares of OIS common stock. This ratio takes in account the approximately 9.4 million OIS shares held by MediVision, and an addition of approximately 1.9 million OIS shares for MediVision’s other assets and liabilities.
In addition, outstanding options and warrants to purchase MediVision shares shall also be converted into options or warrants in the same exchange ratio, as the case may be, to purchase shares of OIS common stock.
Yigal Berman, chairman of OIS, said: “I believe that this transaction will be advantageous for both companies’ customers while enhancing value for all shareholders. The merger with MediVision will strengthen OIS’s operational capabilities and product offerings, while enhancing its capacity to continue to grow to serve the needs of both companies’ existing customers.”