InMed Pharmaceuticals Inc. (INM) Form 424B3 — Oct 1, 2026
InMed Pharmaceuticals filed a 424B3 proxy statement/prospectus for its reverse merger with privately-held Mentari Therapeutics, under which InMed will redomesticate to Nevada, effect a reverse split of 1-for-2 to 1-for-20, and rename itself Mentari Therapeutics, trading as MTRI on Nasdaq. Mentari stockholders, including participants in a ~$490 million pre-closing financing (Fairmount, Janus Henderson, a16z Bio + Health, RTW, Perceptive and others), will own approximately 99.03% of the Combined Company, leaving existing InMed holders with roughly 0.97% on a fully-diluted basis.
Key figures
- Meeting Date
- November 4, 2026
- Cvr Expense Cap
- $100,000
- Inmed Share Price
- $1.36 on September 30, 2026
- Net Cash Threshold
- ownership adjusts if net cash is less than or greater than $(3.4) million
- Retention Bonuses
- $160,145 to six InMed key employees
- Reverse Split Range
- 1-for-2 to 1-for-20 (board discretion, no shareholder vote required)
- Support Agreements
- Mentari holders ~49.8%; InMed directors/officers ~1%
- Pre Closing Financing
- approximately $490.0 million (includes $50.0 million of prior convertible notes plus accrued interest)
- Termination Fee In Med
- $400,000
- Exchange Ratio Estimate
- approximately 2.0065 InMed Common Shares per Mentari share (subject to Net Cash adjustment)
- Inmed Net Cash At Closing
- estimated $(4.4) million
- Termination Fee Mentari
- $4,000,000
- Inmed Ownership Post Merger
- approximately 0.97% fully diluted
- Mentari Ownership Post Merger
- approximately 99.03% fully diluted
- Pre Closing Financing Ownership
- approximately 73.36% of Combined Company fully diluted
AI analysis
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