Aeterna Zentaris Enters Into Merger Agreement With Ceapro

(RTTNews) - On Thursday, Aeterna Zentaris Inc. (AEZS) and Ceapro Inc. agreed to merge their operations in an all-stock merger of equals transaction which will be carried out through a plan of arrangement under the Canada Business Corporations Act.

As part of the deal, each outstanding common share of Ceapro will be exchanged for 0.09439 of an Aeterna common share, resulting in Ceapro becoming a wholly-owned subsidiary of Aeterna.

The merged company will be listed on the Nasdaq Capital Market and the Toronto Stock Exchange and will be given a new name in the coming weeks.

Existing security holders of Aeterna and Ceapro will each own 50% of the combined company, respectively, and will share in the future value creation of the merged entity.

The combined company will benefit from ongoing revenue from existing Ceapro products and will have a strong presence in the active ingredients market, as well as in cosmeceutical products and nutraceuticals.

The merger is expected to be completed in the first quarter of 2024.