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Advanced Technology Acquisition Corp.
Advanced Technology Acquisition Corp. Announces Execution of Letter of Intent to Acquire Bioness Inc.
January 9th, 2009
Advanced Technology Acquisition Corp. ("ATAC" or the "Company") (AMEX:AXC) announced that it had entered into a letter of intent (the "LOI") to complete a business combination by means of a merger ( the "Merger")with Bioness, Inc., a Delaware corporation ("Bioness") having significant business operations in Israel. Pursuant to the Company's Amended and Restated Certificate of Incorporation, the execution of the LOI affords the Company a six-month extension for completion of a business combination, until June 22, 2009. The LOI provides that, within four business days following the date of its execution: (1) certain principal stockholders of ATAC (the "Founders") must...
Source: Health Business Week (2009-01-09)
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