The Cross-Border Biotech Blog

Biotechnology, Health and Business in Canada, the United States and Worldwide

Canadian M&A: Akela Pharma and Nventa to Merge, Akela Shareholders to Own 70%

Akela Pharma Inc. (TSX: AKL) and Nventa Biopharmaceuticals (TSX: NVN) will merge by exchanging 0.0355 Akela shares for each Nventa share, resulting in an approximate 70/30 ownership split between Akela and Nventa shareholders, respectively, in the combined entity. The public company will retain Akela’s name, management, and ticker symbol (AKL).  The arrangement arrangement was unanimously approved by both Boards.  Conditions: approvals from Nventa shareholders, the British Columbia Supreme Court and the Toronto Stock Exchange, and a minimum amount of $1.5M of net cash in Nventa.  Current (post-announcement)  Akela market cap: $3.46 million.

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2 responses to “Canadian M&A: Akela Pharma and Nventa to Merge, Akela Shareholders to Own 70%

  1. Pingback: Monday Deal Review: April 13, 2009 « The Cross-Border Biotech Blog

  2. Pingback: Monday Deal Review: May 25, 2009 « The Cross-Border Biotech Blog

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