LifeCell, as the surviving corporation in the merger, is now a direct, wholly-owned subsidiary of KCI. KCI previously announced that it had acquired control of LifeCell pursuant to its cash tender offer for all of the outstanding shares of LifeCell common stock.
The depositary for the tender offer advised KCI that, as of the expiration of the subsequent offering period, approximately $31.1 million shares of LifeCell common stock have been tendered (including the approximately 25.05 million shares that were validly tendered during the initial offering period for the tender offer), representing approximately 90.75% of the outstanding shares of LifeCell common stock.
All shares that were validly tendered during the subsequent offering period have been accepted for purchase, and KCI paid for all such shares on May 27, 2008. Following the expiration of the subsequent offering period, on May 27, 2008, KCI effected a merger to complete the acquisition of LifeCell without a vote or meeting of LifeCell stockholders pursuant to the short-form merger procedure available under Delaware law.