Liminatus Pharma, Inc.
(NASDAQ:LIMN) shares are trending on Wednesday night.
Shares of the California-based immuno-oncology biotechnology company jumped 30.49% to $0.15 in after-hours trading after Liminatus amended and restated its merger agreement with InnocsAI LLC, a cell-therapy developer.
Revised Structure Fast-Tracks Closing The announcement, made after Wednesday's market close, said the revised structure allows the deal to close before obtaining shareholder approval, with closing now expected on Thursday.
Under the amended terms, InnocsAI equity holders will receive a combination of Liminatus common stock, capped at 19.99% of outstanding shares under Nasdaq rules, and non-voting convertible preferred stock.
