Deal includes all issued and outstanding securities.
Cybin and Small Pharma revealed that they have entered into a definitive arrangement agreement in which Cybin will acquire all of Small Pharma’s issued and outstanding securities in an all-share transaction. As per terms of the deal, shareholders of Small Pharma are expected to receive approximately 10 cents per share, with the final agreement being unanimously approved by company’s board of directors.
“This transaction creates a clear market leader in novel psychedelic therapeutics. The synergy of Cybin’s and Small Pharma’s development programs, intellectual property, and robust datasets enhances our leadership and expertise in developing potentially best-in-class, optimized psychedelic therapeutics, and positions the combined company to generate long-term value for all stakeholders. Our combined portfolios, having an increased number of potential value-catalysts, also create added opportunities to support future funding activities with no added debt. We look forward to welcoming our Small Pharma colleagues into the Cybin team,” said Doug Drysdale, CEO, Cybin, in a company press release.
Reference: Cybin to Acquire Small Pharma Inc. Business Wire. August 28, 2023. Accessed August 28, 2023. https://www.businesswire.com/news/home/20230828350890/en/Cybin-to-Acquire-Small-Pharma-Inc.