Biotech Values

[DewDiligence]

REDX acquires JNCE in all-stock reverse-merger:

https://www.globenewswire.com/news-release/2023/02/23/2613916/0/en/Redx-and-Jounce-Announce-Recommended-Business-Combination.html

Jounce intends to conduct a reverse stock split of Jounce Shares in conjunction with the Business Combination, with a ratio of one new share for every five outstanding shares of Jounce…. If the Reverse Stock Split is approved by Jounce Shareholders, the Exchange Ratio will be adjusted to 0.0421 Jounce Shares in exchange for each Redx Share.

Immediately following completion of the Business Combination, including conversion of the Redx Convertible Loan Notes, Redx Shareholders are expected to own approximately 63% and Jounce shareholders approximately 37%...

REDX.L is currently traded in London; after the deal closes, Redx will have a Nasdaq listing, which is the main impetus for this deal from Redx's standpoint, as far as I can tell.