GH Power, the Pioneering Clean Energy and Critical Materials Company, to Go Public through Business Combination with Matinas BioPharma
Following the transaction, the new public company will focus its efforts on the continued development and scale-up of GH Power’s technology platform, expanding project development activities in North America and Europe, and advancing commercial deployment opportunities across energy, industrial, and critical materials applications
GH Power Inc. (“GH Power”) today announced that it has entered into a definitive Business Combination Agreement (the “Business Combination Agreement”) with Matinas BioPharma Holdings, Inc. (NYSE American: MTNB) (“Matinas”) for a proposed business combination that is expected to result in a NYSE-listed, publicly-traded critical minerals and clean energy company focused on advancing GH Power's modular reactor technology and related hydrogen, heat, power, and advanced materials platform.
Pursuant to the Business Combination Agreement, a newly formed Ontario corporation expected to be named GH Power International at or prior to the closing of the Business Combination (“GHP International”) will become the public parent company of GH Power and Matinas. In the first step, pursuant to a plan of arrangement under Section 182 of the Business Corporations Act (Ontario), a wholly owned Ontario subsidiary of GHP International will amalgamate with GH Power to form an amalgamated corporation that will be a wholly owned subsidiary of GHP International. Immediately thereafter, a wholly owned Delaware subsidiary of GHP International will merge with and into Matinas, with Matinas surviving as a wholly owned subsidiary of GHP International.
