By Katherine Hamilton
NLS Pharmaceutics shares climbed on Monday after the company took the next step in its proposed merger with Kadimastem.
The stock is trading up more than 50% at $2.81. It is down about 30% from Nov. 5, when NLS first publicly detailed the merger agreement with Kadimastem.
NLS, a Swiss biopharmaceutical company focused on treating nervous system disorders, said Monday that it filed an F-4 registration statement with the Securities and Exchange Commission outlining its prospectus for the merger agreement.
If the merger is completed, Kadimastem, a cell therapy company, would become a wholly owned subsidiary of NLS and would be publicly traded on Nasdaq. NLS would issue common shares to Kadimastem to shareholders who, after the merger, would hold about 85% of the issued and outstanding NLS shares. Existing NLS shareholders would hold the remaining 15% if the merger closes.
A date for the merger has not yet been disclosed. In the filing, the companies said the merger agreement could be terminated if it is not closed by Jan. 31.
The companies plan to continue developing NLS's Dual Orexin Agonist treatment after the merger.
Write to Katherine Hamilton at katherine.hamilton@wsj.com
(END) Dow Jones Newswires
December 30, 2024 10:24 ET (15:24 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。