Brief: VBL Therapeutics And Notable Labs Announce Definitive Merger Agreement

Notable Labs

23/02/2023 12:10

Feb 23 (Reuters) - Vascular Biogenics Ltd  VBLT.O :
    * VBL THERAPEUTICS AND NOTABLE LABS ANNOUNCE DEFINITIVE
MERGER
AGREEMENT
    * VBL THERAPEUTICS -COMBINED CO EXPECTED TO OPERATE UNDER
NAME
NOTABLE LABS, LTD WITH ITS SHARES LISTED ON NASDAQ UNDER TICKER
SYMBOL 'NTBL.'
    * VBL THERAPEUTICS - AGGREGATE NET TRANSACTION PROCEEDS
EXPECTED
TO FUND PLANNED OPERATIONS INTO 2025
    * VBL THERAPEUTICS - COMBINED COMPANY WILL BE LED BY
NOTABLE'S
CURRENT MANAGEMENT TEAM AND WILL BE HEADQUARTERED IN FOSTER
CITY, CALIFORNIA
    * VBL THERAPEUTICS - NOTABLE WILL MERGE WITH A WHOLLY-OWNED 
SUBSIDIARY OF VBL & STOCKHOLDERS OF NOTABLE WILL RECEIVE NEWLY
ISSUED ORDINARY SHARES
    * VBL THERAPEUTICS - IMMEDIATELY AFTER MERGER, NOTABLE
STOCKHOLDERS ARE EXPECTED TO OWN APPROXIMATELY 76% OF COMBINED
COMPANY
    * VBL THERAPEUTICS - VBL THERAPEUTICS SHAREHOLDERS ARE
EXPECTED TO
OWN APPROXIMATELY 24% OF COMBINED COMPANY

Source text for Eikon:  ID:nGNX2t9psv 
Further company coverage:  VBLT.O 
 ((Reuters.Briefs@thomsonreuters.com;))