Biotech Values

[DewDiligence]

EYES reverse-merges_into_(private) Nano Precision Medical:

https://www.businesswire.com/news/home/20220207005922/en

Second Sight Medical Products, Inc…and Nano Precision Medical, Inc. (“NPM”), today announced that they have entered into a definitive agreement under which privately held NPM will merge with a wholly owned subsidiary of Second Sight in an all-stock transaction. NPM will be the surviving company and owned by Second Sight. The resulting company will focus on development of innovative drug and device medical implants that treat chronic diseases with high unmet medical need.

…Second Sight will issue approximately 134 million shares of its common stock to acquire full ownership of NPM. Second Sight shareholders will acquire approximately 23% equity of the combined company. [I.e., NPM shareholders will own 77% of the merged company.] The transaction is expected to close in the second/third quarter of 2022 and is subject to stockholder approval and other customary closing conditions.