Announcement • Aug 03

+ 1 more update

MPM Asset Management, L.L.C. acquired Reunion Neuroscience Inc. (TSX:REUN) in a going private transaction.

MPM Asset Management, L.L.C. entered into a definitive arrangement agreement to acquire Reunion Neuroscience Inc. (TSX:REUN) for CAD 17.8 million in a going private transaction on May 31, 2023. MPM would acquire Reunion in an all-cash transaction valued at approximately $13.1 million (CAD 17,809,536). Pursuant to the terms and conditions, Reunion shareholders shall receive CAD 1.52 per share. Post deal completion, Reunion will no longer be traded or listed on any public securities exchange and will be wholly-owned by affiliates of MPM. Reunion's board of directors has unanimously approved the transaction. In case of termination of the transaction under certain circumstances, Reunion Neuroscience will be required to pay a termination fee of $0.8 million (CAD 1,067,000). Completion of the Arrangement remains subject to the approval of the Shareholders at the Meeting, obtaining all applicable regulatory approvals, including approval of the Ontario Superior Court of Justice (Commercial List) (the "Court") of the Arrangement and the net cash held by the Company being equal to or greater than $8 million (CAD 10,876,052) as of the close of business. Shareholders meeting is scheduled on July 12, 2023. On July 12, 2023 at the Meeting, shareholders voted in favor of a special resolution to approve the proposed plan of arrangement under Section 192 of the Canada Business Corporations Act. As of July 14, 2023, the transaction has received the final Ontario Superior Court of Justice approval. The deal is expected to close in the calendar third quarter of 2023. As of July 14, 2023, the transaction is expected to close on or about July 21, 2023.Oppenheimer & Co. Inc. is serving as exclusive financial advisor to the Special Committee of the Board of Directors of Reunion and PI Financial Corp. rendered a fairness opinion to Reunion, and Aaron Sonshine and Kris Hanc of Bennett Jones LLP and Steven M. Cohen, Veronica DiCamillo and Jacqueline Berman of Morgan, Lewis & Bockius LLP are serving as legal advisors. Jonathan See and Rami Chalabi of McCarthy Tétrault LLP and Wilmer Cutler Pickering Hale and Dorr LLP are serving as legal advisors to MPM. Computershare Investor Services Inc. is the depository bank for Reunion.MPM Asset Management, L.L.C. acquired Reunion Neuroscience Inc. (TSX:REUN) in a going private transaction on August 1, 2023. With the completion of the Arrangement, the Shares are expected to be de-listed from the Toronto Stock Exchange on the close of markets on or around August 2, 2023. The Company is in the process of applying to cease to be a reporting issuer under applicable Canadian securities laws. The Shares will be delisted from the Nasdaq Global Select Market and deregistered under the Securities Exchange Act of 1934, as amended.

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MPM Asset Management, L.L.C. acquired Reunion Neuroscience Inc. (TSX:REUN) in a going private transaction.

Reunion Neuroscience's Shares to Be De-Listed from the Toronto Stock Exchange on the Close of Markets on or Around August 2, 2023

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