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news.Germany-based Evotec has announced that it has successfully completed the acquisition of Renovisis.
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In exchange for each outstanding share of Renovis common stock, Renovis stockholders receive 0.5271 American depositary shares (ADSs) of Evotec.
Each Evotec ADS represents two ordinary shares of Evotec. As a result, Evotec is issuing an aggregate of 34.98 million new ordinary shares, which underly the ADSs issued to Renovis stockholders. Current Evotec stockholders now own approximately 68.8% of the combined company and Renovis stockholders own up to 31.2%.