GH Power, the Pioneering Clean Energy and Critical Materials Company, to Go Public through Business Combination with Matinas BioPharma
Matinas BioPharma (MTNB) entered into a definitive business combination agreement with GH Power, creating a new publicly traded company focused on clean energy and critical materials. Upon closing, GH Power equityholders will own approximately 91% of the combined entity, while Matinas shareholders will retain about 9%; concurrently, Matinas will sell its LNC technology and MAT2203 assets to Azurity Pharmaceuticals for $4 million upfront plus potential milestones.
Key figures
- Pipe proceeds
- $15.0 million
- Exchange ratio
- 0.1
- Stock sale upfront cash
- $4.0 million
- Matinas ownership percent
- 9%
- Gh power ownership percent
- 91%
- Stock sale milestone potential
- $17.5 million
AI analysis
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