Otsuka Pharmaceutical to acquire Mindset Pharma
Reading time 1 min Christian Fernsby ▼ | September 1, 2023Otsuka Pharmaceutical through its owned subsidiary Otsuka America will acquire all of the outstanding shares of Mindset Pharma by way of a statutory plan of arrangement for approximately CAD $80 million in a cash transaction.
Canada Otsuka Pharmaceutical
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. ■
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