Golf Trust-Pernix merger approved
By John McDermott
The remnants of a Charleston-based company that once owned several dozen golf courses are set to become part of a Texas pharmaceutical maker.
At a special meeting of shareholders today, investors in Golf Trust of America Inc. voted overwhelmingly to approve a previously announced merger with Pernix Therapeutics Inc.
The owners of about 78 percent of Golf Trust’s outstanding common shares cast votes. Of those, more than 99 percent were in favor of the transaction with Pernix.
The deal is expected to be finalized Tuesday.
The merger will enable privately held Pernix to use Gold Trusts’s listing on the American Stock Exchange and become a publicly traded company. Golf Trust has been largely inactive in recent years, aside from selling the last of its golf courses and trying to line up a buyer for its assets.
For more details, see Tuesday’s editions of The Post and Courier.
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