Launch One Acquisition Corp. has announced a Business Combination Agreement with Minovia Therapeutics Ltd., which will see both companies merge under the newly formed public entity, Mito US One Ltd. The agreement outlines that Minovia will initially merge with Mito Sub Israel Ltd., becoming a wholly owned subsidiary of Mito US One Ltd. Subsequently, Launch One will merge with a newly formed Cayman Islands company, resulting in Launch One also becoming a subsidiary of Mito US One Ltd. This transaction will result in Mito US One Ltd. becoming a publicly traded company on Nasdaq, pending approval. The total consideration for Minovia's security holders, which includes in-the-money options and SAFEs, will amount to $180 million plus net cash proceeds from recent financing activities, payable in Mito US One Ltd. shares at the Redemption Price.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.