India, Oct. 23 -- Friday, Bolt Biotherapeutics, Inc. (BOLT) announced its acquisition of Prana Therapies, Inc. through a stock-for-stock transaction aimed at advancing Prana's pipeline of half-life-extended multispecific antibodies developed using its proprietary INSPIRE platform.
The transaction was structured as a sign-and-close reverse merger, under which all outstanding equity interests in Prana were exchanged at a fixed ratio for 430,746 shares of Bolt common stock and 16,360.929 shares of Series D non-voting convertible preferred stock.
Concurrently, Bolt entered into a definitive agreement for a private placement expected to generate $120 million in gross proceeds through the issuance of 13,995.311 shares of Series D non-voting con...