4D shares will retain their listing on AIM once the shares of the merged company are listed on the NASDAQ
4D pharma plc (LON: DDDD) to receive injection of US $ 146 mln through merger with Longevity Acquisition Corporation (NASDAQ: LOAC), a special purpose acquisition company
Longevity will receive US custodian shares, which will be listed on the NASADAQ stock exchange, representing 4D common stock, on terms that assume a value of 110 pence per 4D share
Longevity shareholders will end up owning around 131% of the equity of the merged company, with 4D shareholders holding the remainder.The merged company’s listing on the NASDAQ is expected to take effect in early 2021
« The merger will accelerate and reduce the risk of 4D’s admission to NASDAQ while providing immediate access to additional funds to support our pipeline, » Duncan Peyton, CEO of 4D said in a statement
“We anticipate that a NASDAQ listing will allow 4D to capitalize on the increased interest of US investors in the healthcare sector over the past few years and provide access to a much larger pool of specialist capital,” thus increasing our global profile and exposure The NASDAQ is an attractive market for growing innovative biotech companies, ”said Peyton
Matthew Chen, CEO of Longevity, said he chose to merge with 4D after discovering many other opportunities
The Longevity team has determined that the merger with 4D will bring the greatest value to its shareholders
« 4D Developing Promising Biotherapies to Address Unmet medical needs We are impressed with the track record of 4D’s leadership team in drug development and partnership building, » said Matthew Chen, CEO by Longevity
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Alex Stevenson of 4D pharma plc (LON: DDD) talks to Katie Pilbeam of Proactive London about the company’s latest report which showed positive data for its Phase II trial of its live biotherapy for syndrome irritable bowel (IBS)
He says the results provide the basis for
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Mergers and Acquisitions, 4D Pharma PLC, Longevity Acquisition, NASDAQ, Pharmaceutical Industry, LON: DDDD, Special Purpose Acquisition Company
News from around the world – GB – 4D pharma secures additional access to funds by merger with Longevity Acquisition Corp
