Stealth BioTherapeutics Board Receives Preliminary Proposal Letter

(RTTNews) - Stealth BioTherapeutics Corp (MITO) said its Board has received a preliminary proposal letter from Morningside Venture (I) Investments Ltd. for itself and on behalf of its affiliates and J. Wood Capital Advisors LLC to acquire all outstanding ordinary shares of the company not already beneficially owned by Morningside, including shares represented by ADSs, in a going-private transaction, for $0.026 in cash per share and $0.313 in cash per ADS.

Stealth BioTherapeutics said the Special Committee will evaluate the transaction and all other strategic alternatives available to the company.