Helix Technologies (OTCQB:HLIX) to merge with Medical Outcomes Research Analytics ((MOR Analytics)) in an all-stock merger, whereby MOR Analytics members will own ~72% and Helix shareholders will own ~28% of the combined company on a fully diluted basis.
Upon completion of merger, both companies will become wholly owned subsidiaries of a newly formed company, Forian and expects to go public on the Nasdaq Stock Exchange.
Each Helix shareholders will receive 0.027 shares of Forian common stock. Additionally, at the time of merger, Forian will have ~$10M in cash and will not fund the merger by any new debt..
UPDATE
The phrase “will be converted into the right to receive 0.02731 validly issued, fully paid and non-assessable share of Parent Common Stock (the “Merger Consideration”)” in Section 2.01(c) of the Merger Agreement was deleted and replaced in its entirety by “will be converted into the right to receive 0.05 validly issued, fully paid and non-assessable share of Parent Common Stock (the “Merger Consideration”)”
Source: Form 425 Filed January 4, 2025
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