M&A
confidence high
sentiment neutral
materiality 0.85
Neuphoria Therapeutics to be acquired by Scancell Holdings in all-stock merger with CVRs
Neuphoria Therapeutics Inc.
- Neuphoria shareholders to receive Parent ADSs and contingent value rights; expected to own ~11.1% of combined company.
- Scancell shareholders to own ~64.9%; PIPE investors to own ~17.3% with $38.6M gross proceeds at $0.1205/ADS.
- Closing conditions include stockholder approvals, Nasdaq listing of Parent ADSs, and at least $75M in PIPE proceeds.
- CVRs entitle holders to 100% of net proceeds from Merck collaboration, Pfizer/KAT6 license, and R&D tax credit over 15 years.
- UK Placing of ~$12M and Retail Offer up to $3M also announced; not conditional on merger completion.