Mangoceuticals, Inc.
(NASDAQ:MGRX) shares are trending on Thursday night.
Shares of the public health and wellness company jumped 137.77% to $0.70 in after-hours trading on Thursday following the announcement of a definitive business combination with Nuclea Energy Inc., a developer of the Morpheus lead-cooled microreactor.
Deal Terms Include Nasdaq Ownership Cap Under the agreement, a Mangoceuticals subsidiary will amalgamate with Nuclea, which will continue as an indirect wholly owned subsidiary.
Nuclea shareholders will receive exchangeable shares convertible one-for-one into Mangoceuticals common stock, capped at 19.99% of outstanding shares until stockholder and Nasdaq approvals are obtained.
