Thinly traded nano cap Therapix Biosciences Ltd. is up 72% premarket on average volume following an announcement from FSD Pharma that it has signed a binding letter of intent to acquire Therapix effective yesterday.
Under the terms of the deal, Therapix shareholders will receive $48M of FSD stock valued at $48M. A definitive agreement will be signed within 30 days. The transaction should be finalized by Q1 2019.
Date: October 29, 2018
Source: Seekingalpha
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