Filament Health and Jupiter Acquisition to Combine in $210M Deal

Jupiter Acquisition today announced plans to merge with Filament Health, a Canadian clinical‐stage psychedelic drug development company, at a pro forma enterprise value of about $210 million.

If approved, Vancouver-based Filament would list on the Nasdaq.

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 -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 for clinical development. Read more.

Source: Filament Health and Jupiter Acquisition to Combine in 0M Deal