DMTTF - Cybin's Acquisition Of Small Pharma Will Elevate DMT Therapeutics For Depression And Anxiety | Benzinga
Psychedelics biotech Cybin (NYSE: CYBN) company and UK-based Small Pharma (OTCQB: DMTTF) announced their definitive arrangement agreement for Cybin’s acquisition of all Small Pharma’s issued and outstanding securities.
The deal has already been unanimously approved by both companies’ board of directors and will next face Cybin’s shareholders meeting on or about October 12.
Small Pharma shareholders would receive 0.2409 Cybin common shares per each common share held, taking $0.10 as the exchange ratio based on Cybin shares’ closing price on Cboe Canada (ex NEO) on Aug. 25, plus Small Pharma’s trading price on the TSX Venture Exchange for the period ended Aug. 25.
As of Monday, August 28, existing Cybin shareholders and Small Pharma security holders would own approximately 74.5% and 25.5% of Cybin, respectively.
The combined company will be led by Cybin’s CEO Doug Drysdale. Small Pharma’s senior management ...