BEAVERTON, Ore., Sept. 15 /PRNewswire/ -- Epitope, Inc. (Nasdaq: EPTO) today announced that it has extended by three years the deadline for holders to exercise outstanding warrants to purchase common stock. The company will also permit exercise of the warrants at an adjusted exercise price that will take effect ten days after the spin-off of the company's Agritope, Inc. subsidiary. The extension affects outstanding warrants to purchase approximately 2 million shares of the company's common stock. The warrants were previously set to expire September 30, 1997. As previously announced, Epitope's board of directors has approved a proposal to spin off Agritope. Beginning ten days after the spin-off, Epitope will allow exercise of the warrants at a price equal to 110 percent of the average closing price of Epitope common stock during the five trading days beginning on the date of the spin-off. Epitope, Inc. is a biotechnology company that develops and markets medical diagnostic products. Agritope specializes in the development of new fruit and vegetable plant varieties.
Source: EPITOPE Inc.
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