M&A - MIRA PHARMACEUTICALS, INC.

Form Type: 8-K

Filing Date: 2025-04-11

Corporate Action: Acquisition

Type: Update

Accession Number: 000164117225003889

Filing Summary: MIRA Pharmaceuticals, Inc. received a notification from the Nasdaq Listing Qualifications Staff on April 8, 2025, regarding its failure to meet the minimum stockholders' equity requirement of $2.5 million, as its equity was reported at $2,199,750 as of December 31, 2024. While this notice does not affect the company's listing status or the trading of its stock on the Nasdaq under the symbol 'MIRA', the company has 45 days to submit a plan to regain compliance, with a potential extension of up to 180 days. MIRA Pharmaceuticals is in the process of preparing this compliance plan. A significant aspect of the company's strategy is the anticipated acquisition of SKNY Pharmaceuticals, Inc., which includes a $5 million capital infusion that will strengthen the company's balance sheet. The company is also working on its Phase 1 clinical trial for Ketamir-2, a next-generation oral ketamine analog, and has shown promising early data in its topical formulation. Furthermore, the company is exploring partnerships with strategic investors to enhance its capital position and maintain a focus on advancing its neuroscience pipeline and regulatory milestones.

Document Link: View Document

Form Type: 8-K

Filing Date: 2025-03-24

Corporate Action: Acquisition

Type: New

Accession Number: 000164117225000199

Filing Summary: On March 19, 2025, MIRA Pharmaceuticals, Inc. entered into a binding letter of intent with SKNY Pharmaceuticals, Inc. to acquire SKNY through a stock exchange transaction. This acquisition is significant as it will allow MIRA to include SKNY-1, a novel drug candidate aimed at weight loss and smoking cessation, in its product pipeline. As part of the agreement, SKNY will contribute a $5 million capital infusion, enhancing MIRA's financial position. The acquisition conditions include an independent valuation to ensure SKNY's valuation is at least equal to or greater than MIRA's. This merger will require shareholder approvals from both companies, and a 90-day due diligence period has been initiated to finalize the definitive stock purchase agreement and other documents.

Document Link: View Document