Clinical-stage psychedelics biotech Reunion Neuroscience (NASDAQ:REUN) and MPM BioImpact have completed their announced plan of arrangement for MPM’s acquisition of Reunion for approximately $13.1 million.

The company’s shareholders approved the transaction proposal at a special meeting on July 12, and the Ontario Superior Court of Justice for commercial list did so on July 14.

Following Section 192 of the Canadian BCA and terms and conditions of the definitive arrangement agreement dated May 31, all holders of Reunion’s outstanding common shares are entitled to receive $1.12 in cash for each share held immediately prior to the effective time of the arrangement.

All registered shareholders must complete, sign, date and return the letter of transmittal were mailed and also available under Reunion’s SEDAR+ profile, along with corresponding share certificates and DRS advice-statements, to Computershare Investor Services Inc.

Non-registered shareholders should contact their broker or other intermediary for instructions and assistance in receiving their shares consideration.

With the arrangement’s completion, Reunion’s shares are to be delisted from the Toronto Stock Exchange on markets close on or around August 2, 2023. The Company is also applying to cease to be a reporting issuer under applicable Canadian securities laws.

In the U.S., the shares will be delisted from the NASDAQ and deregistered under the Securities Exchange Act of 1934, as amended.

Reunion’s work consists of developing innovative therapeutic solutions for mental health conditions. Its lead asset RE104 is a proprietary serotonergic psychedelic compound and reportedly the only 4-OH-DiPT prodrug in clinical development, specifically to treat postpartum depression (PPD.)

RE104 is protected under a U.S. patent issued on April 5, 2022 comprising composition of matter, methods of manufacturing, formulations and methods of use for a class of hemiester tryptamines, potentially providing protection out to June 30, 2041.

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