4D Pharma PLC - Leeds-based pharmaceutical company - Proposed a merger with special-purpose acquisition company Longevity Acquisition Corp. Longevity shareholders will hold 13% of the enlarged firm. The deal values 4D Pharma shares at GBP1.10 each - an 18% premium to its GBP0.932 closing price on Wednesday - GBP144.5 million altogether. 4D's current market capitalisation is GBP141.1 million. The enlarged company will also launch an American depositary receipts programme, eyeing a Nasdaq listing.
Current stock price: 107.57 pence
Year-to-date change: up 7.6%
By Dayo Laniyan; dayolaniyan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.