July 3, 2017 / 10:47 AM / 21 days ago

BRIEF-Opexa therapeutics Inc says subsidiary Opexa Merger Sub to merge with Acer Therapeutics

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July 3 (Reuters) - Opexa Therapeutics Inc

* Opexa Therapeutics Inc - on june 30, co, Opexa Merger Sub , and acer therapeutics entered into an agreement and plan of merger and reorganization

* Opexa Therapeutics Inc - co's subsidiary Opexa Merger Sub to merge with and into Acer Therapeutics, with Acer becoming wholly-owned subsidiary of co

* Opexa Therapeutics -at closing of deal, each outstanding share of Acer stock to be converted to right to receive about one share of stock of co

* Opexa Therapeutics - following merger, co shareholders expected to own approximately 11.2% of the combined company

* Opexa-After deal,current Acer shareholders expected to own about 63.8% of combined co,investors participating in financing expected to own about 25%

* Opexa Therapeutics Inc - deal for approximately $15.7 million Source text for Eikon: Further company coverage:

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