BabyUniverse of Jupiter has merged with eToys Direct and will be moving to the company's Denver headquarters.
BabyUniverse (NASDAQ: POSH) is an online marketer of baby and toddler merchandise. eToys Direct is an online marketer of toys and other products for older children.
The combined company will be renamed The Parent Co., pending shareholder approval. It will trade under the BabyUniverse ticker, POSH, until the name change. It will then trade on NASDAQ under the ticker KIDS.
Under the terms of the previously announced merger, eToys Direct shareholders now own about two-thirds of the new company and BabyUniverse shareholders own one-third.
Shares closed Friday at $12, a 52-week high. The 52-week low was $5.07 on Jan. 26.
credited by: bizjournals.com
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