-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 http://www.m2.com
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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