Marinus Pharmaceuticals (MRNS) shares were up premarket Monday after the company said it signed a deal under which Immedica Pharma will acquire all issued and outstanding shares for $0.55 a share.

Under the terms of the deal, Immedica Pharma will initiate a cash tender offer for all MRNS shares, corresponding to an implied enterprise value of $151 million, the companies said.

The companies said they intend to close the transaction in Q1 and that Marinus' board of directors unanimously approved the merger plan.