Eyenovia Plans All-Stock Reverse Merger With Betaliq

Dow Jones

Mar 20, 2025

By Colin Kellaher

Eyenovia on Thursday said it has signed a non-binding letter of intent to combine with clinical-stage pharmaceutical company Betaliq in an all-stock reverse merger.

Eyenovia said Betaliq investors will own about 83.7% of the combined company upon completion of the deal, while its current shareholders would own about 16.3%.

New York ophthalmic-technology company Eyenovia said the proposed transaction assumes a value of about $77 million for Betaliq and roughly $15 million for Eyenovia, which sports a market capitalization of about $3.51 million based on Wednesday's closing price of $1.67.

Trading in shares of Eyenovia was halted premarket on Thursday.

A reverse merger allows a private company to go public by merging with a public one at a lower cost than is involved in traditional initial public offerings.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

March 20, 2025 07:20 ET (11:20 GMT)

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