M&A
confidence high
sentiment neutral
materiality 0.90
Neoleukin to merge with Neurogene; Neurogene stockholders to own ~84% of combined co.
Neurogene Inc.
- Neoleukin stockholders will own ~16% of combined company; Neurogene stockholders ~84% on as-converted basis.
- Concurrent ~$95M private financing from investors to close immediately before merger.
- Closing conditions include Neoleukin net cash >= $60M and Neurogene gross proceeds >= $75M from financing.
- Post-merger board of 7 directors: 5 designated by Neurogene, 2 by Neoleukin; CVRs for legacy asset proceeds.
- Support agreements from ~77% of Neurogene and ~21% of Neoleukin stockholders; 180-day lock-up on shares.