LENZ Therapeutics, Graphite Bio Enter Definitive Merger Agreement To Combine Companies In An All-stock Transaction
Portfolio Pulse from Benzinga Newsdesk
LENZ Therapeutics and Graphite Bio have entered into a definitive merger agreement to combine in an all-stock transaction. The merged entity will trade on Nasdaq under the ticker 'LENZ'. The combined company is anticipated to have around $225 million in cash or cash equivalents, including proceeds from concurrent PIPE financing.
November 15, 2023 | 12:04 pm
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Graphite Bio (GRPH) has entered into a definitive merger agreement with LENZ Therapeutics. The merger is expected to provide the combined entity with approximately $225 million in cash, including proceeds from PIPE financing.
The merger news is directly related to Graphite Bio and is significant as it involves a definitive agreement that will shape the company's future. The anticipated cash position of the combined company suggests a strengthened financial standing, which could positively influence investor sentiment and the stock price in the short term.
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