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Transaction involves an all-stock acquisition and a concurrent private placement.
Adial Pharmaceuticals, Inc. (Nasdaq: ADIL) announced the acquisition of Azora Therapeutics in an all-stock transaction. Concurrently, the company revealed plans for a private placement aiming to raise up to $64 million. The acquisition and financing were announced together to support the company's growth initiatives.
The all-stock transaction involves Adial issuing shares to Azora Therapeutics' stakeholders. The private placement is intended to provide additional capital, with the company targeting to raise up to $64 million through this offering. There are no shares outstanding or float details provided in relation to these transactions.
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