EXETER, N.H.--(BUSINESS WIRE)--CPEX Pharmaceuticals, Inc. (NASDAQ: CPEX) today confirmed that Arcadia Capital Advisors, LLC and its principal Richard Rofé, who hold approximately 12% of outstanding shares, have filed with the Securities and Exchange Commission (SEC) notice of intention of Mr. Rofé to make an unsolicited contingent offer to purchase the remaining shares of common stock of CPEX for $14.00 per share. Mr. Rofé indicated that any offer would require the CPEX Board of Directors to redeem the Rights under CPEX Shareholder Rights Plan.
