(RTTNews) - InMed Pharmaceuticals (INM) has entered into a definitive merger agreement for an all-stock transaction with Mentari Therapeutics, a privately-held biotechnology company developing therapies for migraine prevention, Indigo Merger Sub Corp. a subsidiary of InMed, and Indigo Merger Sub II, a subsidiary of InMed. The merger brings together Mentari's differentiated migraine pipeline with InMed's public market infrastructure.
Upon consummation of the transaction, the combined entity will operate as Mentari Therapeutics and trade on the Nasdaq Capital Market under a new ticker symbol. The pre-merger InMed shareholders are expected to own approximately 1.51% of the combined company, which is expected to have a pro forma equity value of approximately $421.4 million.
In pre-market trading on NasdaqCM, InMed shares are up 195 percent to $2.01.
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