BriaCell Receives Court Approval For the Share Arrangement Spinning Out BriaPro Therapeutics (SpinCo) To Existing Shareholders; August 31, 2023 Is The Expected Effective Date For The Distribution Contemplated By The Arrangement
Portfolio Pulse from Happy Mohamed
BriaCell Therapeutics Corp. (NASDAQ:BCTX) has received court approval for a plan of arrangement to spin out certain pipeline assets, including Bria-TILsRx™ and protein kinase C delta (PKCδ) inhibitors, to BriaPro Therapeutics Corp. (SpinCo). The arrangement will result in a 2/3 owned subsidiary of BriaCell, with the remaining 1/3 held by BriaCell shareholders. The arrangement is expected to take place on August 31, 2023. Following the arrangement, BriaCell will remain listed on the NASDAQ and Toronto Stock Exchange, while SpinCo will become an unlisted reporting issuer in Canada.
August 25, 2023 | 6:57 pm
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BriaCell's court-approved plan to spin out assets to BriaPro Therapeutics could potentially impact the company's stock in the short term.
The spin-out of assets to BriaPro Therapeutics could potentially impact BriaCell's stock as it could change the company's valuation. However, the exact impact is uncertain and will depend on various factors, including the market's perception of the spin-out and the value of the assets being spun out.
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