Brief: Mei Pharma And Infinity Pharmaceuticals Announce Definitive Merger Agreement
23/02/2023 12:13
Feb 23 (Reuters) - Infinity Pharmaceuticals Inc
INFI.O :
* MEI PHARMA AND INFINITY PHARMACEUTICALS ANNOUNCE
DEFINITIVE
MERGER AGREEMENT
* MEI PHARMA INC - INFINITY WILL BECOME A WHOLLY OWNED
SUBSIDIARY
OF CO
* MEI PHARMA - PRE-MERGER SHAREHOLDERS OF CO TO OWN ABOUT
58% OF
OUTSTANDING EQUITY OF COMBINED CO IMMEDIATELY AFTER DEAL
* MEI PHARMA INC - COMBINED COMPANY IS EXPECTED TO BE
RENAMED AND
TRADE ON NASDAQ STOCK MARKET
* MEI PHARMA INC - COMBINED COMPANY WOULD BE HEADQUARTERED
IN SAN
DIEGO, CALIFORNIA
* MEI PHARMA - PROJECTED ABOUT $100M CASH BALANCE OF
COMBINED CO
EXPECTED TO FUND OPERATIONS THROUGH MID-2025 & TO CLINICAL DATA
OVER NEXT 12-24 MONTHS
Source text for Eikon: ID:nBw2cPl43a
Further company coverage: INFI.O
((Reuters.Briefs@thomsonreuters.com;))
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