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-Selway Capital Acquisition, Healthcare Corp merger closes.

BANKING AND CREDIT NEWS-April 11, 2013--Selway Capital Acquisition, Healthcare Corp merger closes(C)2013 M2 COMMUNICATIONS

11 April 2013 -- New York-based Selway Capital acquisition Corp said it has completed its business combination with US pharmacy benefits manger Healthcare Corp. of America (OTCBB: SWCAL).

As a result, the combined company's Series C common shares will begin trading on the OTCBB under the symbol SWCAL on Thursday, April 11.

In addition, the combined company's units will be mandatorily separated into its component series A common stock and warrants, and the combined company's series A common stock (including the series A common stock underlying the units) will cease to trade.

The stock will be automatically converted to series B common stock, which will commence trading under a to be announced symbol on Thursday, April 11, 2013.

HCCA was formed in 2008 in Denville, New Jersey as a full-service transparent pricing pharmacy benefit management company. PBMs administer prescription drug programmes for employers.

Aegis Capital acted as lead book-running manager and Chardan Capital Markets acted as co-book-running manager in Selway's initial public offering.

1 USD = 0.652618 GBP

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Publication:M2 Banking & Credit News (BCN)
Date:Apr 11, 2013
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