Mindset Pharma Inc. (CSE: MSET) (FSE: 9DF) (OTCQB: MSSTF) ("Mindset"), a drug discovery company developing novel, optimized, next-generation psychedelic and non-psychedelic medications to treat neuropsychiatric and neurological disorders with unmet medical needs, announce that they have entered into a definitive arrangement agreement (the "Agreement") pursuant to which Otsuka Pharmaceutical Co., Ltd. ("Otsuka"), through its wholly- owned subsidiary Otsuka America, Inc. ("OAI") will acquire all of the outstanding shares of Mindset by way of a statutory plan of arrangement for approximately CAD $80 million in an all-cash transaction (the "Transaction").
Under the terms and conditions of the Agreement, each Mindset shareholder will receive $0.75 in cash for each share of Mindset held. The Transaction price represents as 15.4% premium to the closing price of the shares of Mindset on August 30, 2023, a 27.9% premium based on Mindset's 30-trading day volume weighted average price ("VWAP") and a 51.5% premium based on Mindset's 90-trading day VWAP for the period ending August 30, 2023. Holders of outstanding options and warrants to purchase shares of Mindset will receive a cash payment for the "in-the-money" value, if any, in respect of all vested options and warrants of Mindset.
https://finance.yahoo.com/news/otsuka-pharmaceutical-acquire-mindset-pharma-113000165.html
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