InMed closes merger with Mentari; renamed Mentari Therapeutics (MTRI), Mentari holders own ~99%
InMed Pharmaceuticals Inc.
Closed Nov 6, 2026 merger: InMed became Mentari Therapeutics, ticker MTRI on Nasdaq, after 1-for-10 reverse split and redomestication from British Columbia to Nevada.
Exchange ratio was 0.20065 Company shares per Mentari common/Series A share; Mentari Series Seed preferred converted at 0.00020065 Company Series A preferred per share.
Post-close fully diluted: legacy InMed holders ~1.0%, Mentari holders ~99.0%, after $490.0M PIPE of 215,042,178 shares and 7,317,328 pre-funded warrants.
PIPE included $52.7M of principal/accrued interest on Mentari convertible notes; $290M tranche priced off $125M valuation, additional $200M at 152.8% of that price.
CVRs: one per InMed share held Nov 5, 2026, paying 100% of net proceeds from legacy InMed business sale in first year and 90% in second; 2-year term, extendable to 15 years.
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
Key facts
Extracted from this filing and checked against the source text.
Executive changeSEC 8-K Item 5.02confidence 0.5
Julianne Bruno was appointed as Director at InMed Pharmaceuticals Inc..
Role
Director
Exact text from the filing
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
Michelle Pernice was appointed as Director at InMed Pharmaceuticals Inc..
Role
Director
Exact text from the filing
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
Laura Sandler was appointed as Director at InMed Pharmaceuticals Inc..
Role
Director
Exact text from the filing
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
Todd Shegog was appointed as Director at InMed Pharmaceuticals Inc..
Role
Director
Exact text from the filing
The newly constituted board of directors of the Company (the “ Board ”) has determined that each of Julianne Bruno, Michelle Pernice, Laura Sandler and Todd Shegog, each of whom is a current member of the Board, qualifies as an “independent director” as defined under the Nasdaq listing rules.
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