aibioBionomics (now Neuphoria Therapeutics) wins court approval for its US move
Tickers NEUP
The Supreme Court of New South Wales approved the scheme of arrangement. Neuphoria shares are expected to start trading on Nasdaq as NEUP on December 24, 2024.
Key facts
- Company
- Neuphoria Therapeutics Inc. (NASDAQ: NEUP)
- News type
- Mergers
- Primary source
- Neuphoria Therapeutics Inc. 8-K (2024-12-16)
Bionomics Limited (Nasdaq: BNOX), now part of Neuphoria Therapeutics Inc., said on December 16, 2024 that the Supreme Court of New South Wales, Australia, made orders approving the scheme of arrangement for its move from Australia to the United States.
Under the scheme of arrangement, Neuphoria Therapeutics Inc., a Delaware corporation, will become the ultimate parent company of Bionomics Limited. This kind of move is called a re-domiciliation.
A copy of the court's orders was lodged with the Australian Securities & Investments Commission after the hearing, and the scheme then became legally effective.
Bionomics' ADSs will keep trading on Nasdaq until the implementation date of December 23, 2024 (New York time). Shareholders who hold shares at the record date, 5:00pm Sydney time on Tuesday, December 17, 2024, will be entitled to receive the scheme consideration. The terms are set out in Section 6 of the Scheme Booklet dated November 11, 2024. The consideration will be paid on the implementation date.
Neuphoria shares are expected to begin trading on Nasdaq under the symbol "NEUP" on December 24, 2024 or as soon as possible after that.
The announcement is in the company's press release.