In the merger, each share of Encysive's outstanding common stock was cancelled and (except for shares held by Encysive, Pfizer or by their wholly-owned subsidiaries or by holders who properly exercised their appraisal rights under Delaware law) converted into the right to receive $2.35 per share in cash, without interest and less any required withholding taxes. Prior to the merger, Explorer Acquisition Corp. acquired approximately 85.33% of the outstanding Encysive shares by tender offer.
Pfizer has appointed Computershare Trust Company, N.A. as the paying agent for payment of the merger consideration. The paying agent will mail instructions to former Encysive stockholders outlining the steps to be taken to obtain the merger consideration. Stockholders do not need to take any action regarding their shares until contacted by the paying agent.
For further information, visit www.pfizer.com.