ANNAPOLIS, Md., Nov. 17, 2016 /PRNewswire/ -- PharmAthene,
Inc. (NYSE MKT: PIP), a biodefense company developing medical
countermeasures against anthrax, today announced that its Board of
Directors has declared a special one-time cash dividend of
$2.91 per share of common stock,
payable on February 3, 2017 to
holders of record as of January 24,
2017.
The special dividend, totaling an aggregate payment of
approximately $200 million, which
represents approximately 98% of the after tax net cash proceeds
received from SIGA, was approved by PharmAthene's Board of
Directors following the Company's receipt of $83.9 million as final payment from SIGA
Technologies, Inc. in satisfaction of the judgment owed by it to
PharmAthene. In total, PharmAthene has received payment of
approximately $217 million (including
interest) from SIGA in connection with the judgment.
The U.S. federal income tax treatment of holding common stock to
any particular stockholder will depend on the stockholder's
particular tax circumstances. PharmAthene's stockholders are urged
to consult their tax advisor regarding the U.S. federal, state,
local and foreign income and other tax consequences to them, in
light of their particular investment or tax circumstances, of the
receipt of the special dividend.
About PharmAthene
PharmAthene is a biodefense company engaged in the development
of next generation medical countermeasures against biological
threats. The Company's development portfolio includes a next
generation anthrax vaccine that is intended to improve protection
while having favorable dosage and storage requirements compared to
other anthrax vaccines.
Forward-Looking Statement Disclaimer
Except for the historical information presented herein, matters
discussed may constitute forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995
that are subject to certain risks and uncertainties that could
cause actual results to differ materially from any future results,
performance or achievements expressed or implied by such
statements. Statements that are not historical facts, including
statements preceded by, followed by, or that include the
words "potential"; "believe"; "anticipate"; "intend"; "plan";
"expect"; "estimate"; "could"; "may"; "should"; "will"; "project";
or similar statements are forward-looking statements. Risks and
uncertainties are detailed from time to time in PharmAthene's Forms
10-K and 10-Q under the caption "Risk Factors" and in its other
reports filed with the U.S. Securities and Exchange Commission.
PharmAthene disclaims any intent or obligation to update these
forward-looking statements other than as required by law.
Copies of PharmAthene's public disclosure filings are available
on our website under the investor relations tab at
www.PharmAthene.com.
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SOURCE PharmAthene, Inc.