Jupiter Acquisition in a regulatory filing included an investor presentation promoting its proposed merger with Filament Health, a Canadian clinical‐stage psychedelic drug development company.
The combination had a pro forma enterprise value of about $210 million at deal announcement in July.
The deal is expected to provide at least $5 million of net proceeds to the combined company. The proposed combination reflects a pre-money equity value of $176 million for Filament and provides the company’s shareholders and certain other parties a contingent right to receive additional shares based upon post-closing stock performance. At closing, holders of outstanding Filament shares will receive equity in the merged company valued at 85 cents per share (subject to adjustments).
Filament is a natural psychedelic drug development company focused on the treatment of substance use disorders. Filament’s proprietary technology platform enables the discovery and delivery of botanical psychedelic medicines. Read more.