An update from Nuvation Bio (NUVB) is now available.
Nuvation Bio Inc., a biopharmaceutical company, has announced a strategic merger with AnHeart Therapeutics Ltd., which will result in AnHeart becoming a wholly owned subsidiary of Nuvation Bio. This tax-free reorganization is designed to significantly enhance Nuvation Bio’s drug development capabilities and market presence. The deal involves the issuance of approximately 128.7 million shares of Nuvation Bio and additional warrants to AnHeart’s accredited investors. Post-merger, AnHeart’s securityholders will own about one-third of Nuvation Bio’s capital stock, with the original Nuvation Bio securityholders retaining roughly two-thirds. The merger, approved by Nuvation Bio’s Board of Directors but not requiring stockholder approval, is expected to fortify the company’s position in the biotechnology sector, accelerating the path towards delivering innovative therapeutic solutions.
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