M&A
confidence high
sentiment neutral
materiality 0.95
ReShape Lifesciences announces reverse merger with Vyome Therapeutics and asset sale for $5.16M
Vyome Holdings, Inc
- Vyome stockholders will own 88.9% of combined company; ReShape stockholders to own 11.1%.
- ReShape sells substantially all assets to Ninjour (Biorad Medisys affiliate) for $5.16M cash; Merger closes immediately after.
- Series C Preferred liquidation preference reduced from $26.2M to at most $1M or 20% of asset sale price or excess net cash.
- Up to $7.3M in concurrent financing includes $5.8M common stock at 30% discount to post-merger valuation.
- CEO Paul Hickey receives severance increase to 18 months base salary and 4% fully diluted shares.