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Enzo Biochem, Inc. (OTCQX:ENZB), a company with a market capitalization of $36.59 million and revenues of $27.47 million in the last twelve months, has completed its previously announced merger with Bethpage Parent, Inc., according to a statement filed with the Securities and Exchange Commission on Wednesday. As a result of the transaction, Enzo Biochem has become a wholly owned subsidiary of Bethpage Parent.
The merger was executed under an agreement dated June 23, 2025, between Enzo Biochem, Bethpage Parent, and Bethpage Merger Sub, Inc., a wholly owned subsidiary of Bethpage Parent. On Wednesday, Bethpage Merger Sub merged with and into Enzo Biochem, with Enzo Biochem surviving as the subsidiary.
Under the terms of the merger agreement, each share of Enzo Biochem common stock outstanding immediately prior to the merger was converted into the right to receive $0.70 in cash, without interest and subject to applicable withholding taxes. According to InvestingPro analysis, this price represents a value below the stock’s Fair Value, despite the company’s GOOD financial health score and strong liquidity position with a current ratio of 2.84. The company stated that restricted stock units held by board members or vested as of the merger were also converted into cash consideration, while unvested restricted stock units and outstanding stock options were canceled without payment. Warrants to acquire shares were canceled in exchange for cash amounts as set forth in separate warrant cancellation agreements.
Following the completion of the merger, Enzo Biochem’s common stock ceased trading on the OTCQX tier of the OTC Markets before the market opened on Wednesday. The stock’s final trading phase showed remarkable momentum, with InvestingPro data revealing a 32.54% price return over the past six months. The company intends to file a Form 15 with the SEC to deregister its common stock under Section 12(g) of the Securities Exchange Act of 1934 and to suspend its reporting obligations.
In connection with the merger, all members of the board of directors—Steven J. Pully, Bradley L. Radoff, Jonathan Couchman, and Kara Cannon—stepped down from their roles. The company also amended and restated its certificate of incorporation and bylaws as part of the transition.
This summary is based on a press release statement and information contained in the company’s SEC filing.
In other recent news, Enzo Biochem has completed its merger with Bethpage Parent, Inc. This development follows the approval of the merger by Enzo Biochem shareholders at a special meeting. The merger agreement, initially disclosed earlier, involved Bethpage Merger Sub, Inc., a wholly owned subsidiary of Bethpage Parent, merging with and into Enzo Biochem. As a result, Enzo Biochem is now a wholly owned subsidiary of Bethpage Parent. The merger was approved by shareholders representing approximately 65.58% of the company’s outstanding common stock. Following the merger, Enzo Biochem has been delisted from the OTCQX market. These recent developments mark a significant change in the company’s corporate structure.
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