Kadimastem To Become Subsidiary Of NLS; Kadimastem Shareholders To Hold 85% Of Merged Company Shares

(RTTNews) - NLS Pharmaceutics (NLSP) and Kadimastem have entered into a binding term sheet for a transaction under which Kadimastem is anticipated to become a wholly owned subsidiary of NLS, and Kadimastem's shareholders will acquire an 85% interest in NLS. The combined company is expected to operate under the name Kadimastem and be traded on the Nasdaq Capital Market. Existing Kadimastem shareholders will hold 85% of the issued and outstanding shares of the merged company. The existing shareholders of NLS will hold the remaining 15% of the issued and outstanding shares of NLS.

Following the transaction, the parties expect to continue developing NLS's Dual Orexin Agonist platform within the merged company.

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