Maxygen was a biopharmaceutical company that has historically focused on the discovery and development of improved next-generation protein pharmaceuticals for the treatment of disease and serious medical conditions. Over the past several years, Maxygen has focused its efforts on maximizing stockholder value through sales, distributions and other arrangements involving our various assets.
As contemplated by the Plan of Complete Liquidation and Dissolution previously approved by Maxygen’s Board of Directors and stockholders, Maxygen has filed a certificate of dissolution with the Secretary of State of the State of Delaware. The certificate of dissolution, which became effective at 5:00 p.m. Eastern Time on August 29, 2013, provides for the dissolution of Maxygen under the General Corporation Law of the State of Delaware. For additional information regarding the dissolution, please see Maxygen’s Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (SEC) on June 28, 2013 and its Current Report on Form 8-K filed with the SEC on August 12, 2013.
Maxygen notified The NASDAQ Stock Market (NASDAQ) of the filing and NASDAQ has advised Maxygen that trading of the company’s common stock was suspended after the regular market officially closed at 4:00 p.m. Eastern Time on August 29, 2013. NASDAQ also has advised Maxygen that it has filed a Notification of Removal from Listing and/or Registration on Form 25 with the SEC to delist the common stock from NASDAQ. Maxygen also intends to seek relief from the SEC to suspend certain of its reporting obligations under the Securities and Exchange Act of 1934, as amended.
In connection with the effectiveness of the certificate of dissolution, Maxygen also closed its stock transfer books and discontinued recording transfers of its common stock, effective as of 5:00 p.m. Eastern Time on August 29, 2013. As a result, the common stock, and stock certificates evidencing the shares of common stock, will no longer be assignable or transferable on the company’s books, other than transfers by will, intestate succession or operation of law.
As previously announced, the company made an initial liquidating distribution of $2.50 per share of Maxygen’s common stock, which was payable on August 29, 2013. On June 30, 2014, Maxygen made a final liquidating distribution in the amount of $0.093 per share of common stock. The final liquidating distribution had a record date of June 29, 2014.
Maxygen will make no further distributions beyond this final liquidating distribution. There is no requirement for stockholders to surrender shares in connection with the final liquidating distribution.
Current News Highlights
June 16, 2014
Maxygen Announces Final Liquidating Distribution
August 12, 2013
Maxygen Announces Approval of Dissolution by Shareholders
August 7, 2013
Maxygen Reports Second Quarter 2013 Financial Results
January 29, 2013
Maxygen Announces Tax Treatment of 2012 Cash Distribution