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What consideration did Steel Vault stockholders receive under the merger agreement?

April 26, 2017Agreement consideration merger steel Stockholders Vault

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What consideration did Steel Vault stockholders receive under the merger agreement?

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Under terms of the agreement, Steel Vault stockholders received 0.5 shares of VeriChip common stock for every share of Steel Vault common stock held. The outstanding stock options and warrants of Steel Vault were also converted at the same ratio. This merger was a stock-for-stock transaction.