Processa completes reverse merger with Vidya, raises $200M PIPE, terminates Elion license

Processa Pharmaceuticals, Inc.

Merger closed: Processa issues 558,398 common + 142,744 Series A Preferred (convertible 1:1,000) to Vidya holders.
Raises $200M via PIPE of 163,775 Series A Preferred shares; closing expected July 30, 2026.
Proceeds to fund operations into H2 2029 and Phase 2 studies for food allergy, CSU, and RMS.
Terminates Elion license for PCS6422; pays $650K in fees, returns program, grants 7.5% equity in NewCo.
Sheila Gujrathi, Vidya founder, appointed to board; existing Processa holders diluted to ~0.9% post-PIPE.

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