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What's Going On With Reunion Neuroscience Stock Today

Author: Nabaparna Bhattacharya | June 02, 2023 10:26am

Reunion Neuroscience Inc. (NASDAQ:REUN) shares are trading lower on Friday after inking a take-private deal with MPM BioImpact, where MPM would acquire Reunion for $13.1 million under the Canadian Business Corporations Act.
Per the terms of the agreement, Reunion will receive $1.12 in cash for each share held in the company.
In the last weeks of December 2022, the company struggled to remain NASDAQ listed as the bid price of the company was below $1.00.
Based on the Bank of Canada's daily exchange rate as of the close of business on May 31, 2023, this would be approximately $1.52 per share in Canadian dollars.
The deal represents a premium of approximately 43.1% over the trailing 30-trading-day volume weighted average price.
The partners expect to close the arrangement in the third quarter of 2023.
Price Action: REUN shares are trading higher by 1.46% to $1.09 on the last check Friday.

Posted In: REUN