Brief: Conduit Pharmaceuticals To Become A Publicly Traded Company Via Merger With Murphy Canyon Acquisition Corp

Presidio Property Trust

08/11/2022 23:33

Nov 8 (Reuters) - Presidio Property Trust Inc  SQFT.O :
    * PRESIDIO PROPERTY TRUST INC - CONDUIT PHARMACEUTICALS TO
BECOME
A PUBLICLY TRADED COMPANY VIA MERGER WITH MURPHY CANYON
ACQUISITION CORP.
    * PRESIDIO PROPERTY TRUST INC - UPON THE BUSINESS
COMBINATION
TRANSACTION CLOSING, COMBINED COMPANY IS EXPECTED TO BE NAMED
CONDUIT PHARMACEUTICALS INC.
    * PRESIDIO PROPERTY TRUST INC - COMBINED COMPANY WILL
CONTINUE TO
OPERATE UNDER CONDUIT MANAGEMENT TEAM, LED BY DR. DAVID
TAPOLCZAY, CEO
    * PRESIDIO PROPERTY TRUST INC - THE COMBINED COMPANY’S
COMMON
STOCK IS ANTICIPATED TO BE LISTED ON NASDAQ UNDER TICKER SYMBOL
“CDT”
    * PRESIDIO PROPERTY TRUST INC - COMBINED COMPANY IS
ANTICIPATED TO
HAVE AN ESTIMATED PRO FORMA ENTERPRISE VALUATION OF
APPROXIMATELY $700.49 MILLION
    * PRESIDIO PROPERTY TRUST - AFTER DEAL CLOSING, EXISTING
CONDUIT
SHAREHOLDERS WILL RETAIN 100% OF EQUITY OWNERSHIP & WILL OWN
ABOUT 76.48% OF PRO FORMA COMBINED CO

Source: (shorturl.at/HW248)
Further company coverage:  SQFT.O 
 ((Reuters.Briefs@thomsonreuters.com;))