LAFAYETTE – Evolutionary Genomics Inc. is going public in a reverse merger with shell company Fona Inc., CEO Steve Warnecke confirmed Friday.
Evolutionary Genomics, which employs five people, is a Delaware corporation operating in Lafayette. The company identifies genes that aid crop growth, including identifying traits that perform better in drought conditions.
The reverse merger is expected to take effect once the U.S. Securities and Exchange Commission approves the deal later this year. Evolutionary Genomics’ stock will trade on an over-the-counter market, though the company hasn’t determined which one.
Fona was formed to complete the reverse merger. Evolutionary Genomics will own 98 percent of Fona shares after regulators approve the deal.
Established in 1999 by Walter Messier and Ginny Orndorff, the company has worked on developing an improved soybean crop resistant to parasites as well as other projects.
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