Canadian next-generation psychedelics developer Mindset Pharma (OTCMKTS: MSSTF) has entered into a definitive agreement by which Otsuka America Inc., the U.S. arm of Otsuka Pharmaceutical Co., would acquire all its outstanding shares in an all-cash transaction for approximately $60 (CA$80) million. Otsuka Pharmaceutical is part of Tokyo-headquartered Otsuka Holdings (OTCMKTS: OTSKF).

Expected to close on or around October 19, 2023, the transaction’s terms would give Mindset shareholders $0.55 (CA$0.75) in cash per share -a 15.4% premium to its closing price August 30, a 27.9% premium based on its 30-trading day VWAP, or a 51.5% premium from its 90-trading day VWAP.

Psychedelic Alpha recalls that collaboration began in January 2022 when Mindset entered into a partnership with Otsuka’s McQuade Center …

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