Recent Quotes View Full List My Watchlist Create Watchlist Indicators DJI Nasdaq Composite SPX Gold Crude Oil EL&P Market Index Markets Stocks ETFs Tools Overview News Currencies International Treasuries InMed Pharmaceuticals (INM): Acquiring BayMedica By: Edison Investment Research Limited via AccessWire September 20, 2021 at 07:50 AM EDT LONDON, UK / ACCESSWIRE / September 20, 2021 / InMed has announced that it has entered into a definitive agreement to acquire BayMedica, a private US-based company that is focusing on the manufacture and commercialization of rare cannabinoids. This is an all-stock transaction in which InMed will issue 1.78m shares to BayMedica's equity and convertible debt holders. At the current stock price, this values BayMedica at approximately US$4m. Following the closure of the transaction, the combined company will have expertise in both yeast and bacteria biosynthesis as well as chemical synthesis of cannabinoids. Additionally, it will be a commercial company with cumulative revenues of over US$2.5m since December 2019 stemming from the sale of cannabichromene (CBC). The acquisition is expected to close in the coming weeks.We have adjusted our valuation to US$242m or US$20.03 per basic share, from US$236m or US$29.27 per basic share. The total valuation rose due to higher net cash following a US$12m (gross) calendar Q221 financing, while the per-share value decreased due to a higher number of shares outstanding.Click here to view the full report or here to sign up to receive research as it is published.All reports published by Edison are available to download free of charge from its website www.edisongroup.com.About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.Edison is authorised and regulated by the Financial Conduct Authority.Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.For more information, please contact Edison:Maxim Jacobs +1 646 653 7027 healthcare@edisongroup.comJyoti Prakash +91 981 880 393 healthcare@edisongroup.comLearn more at www.edisongroup.com and connect with Edison on:LinkedIn www.linkedin.com/company/edison-group-/Twitter www.twitter.com/Edison_Inv_ResYouTube www.youtube.com/edisonitvSOURCE: Edison Investment Research LimitedView source version on accesswire.com: https://www.accesswire.com/664736/InMed-Pharmaceuticals-INM-Acquiring-BayMedica Data & News supplied by www.cloudquote.io Stock quotes supplied by Barchart Quotes delayed at least 20 minutes. By accessing this page, you agree to the following Privacy Policy and Terms and Conditions.
InMed Pharmaceuticals (INM): Acquiring BayMedica By: Edison Investment Research Limited via AccessWire September 20, 2021 at 07:50 AM EDT LONDON, UK / ACCESSWIRE / September 20, 2021 / InMed has announced that it has entered into a definitive agreement to acquire BayMedica, a private US-based company that is focusing on the manufacture and commercialization of rare cannabinoids. This is an all-stock transaction in which InMed will issue 1.78m shares to BayMedica's equity and convertible debt holders. At the current stock price, this values BayMedica at approximately US$4m. Following the closure of the transaction, the combined company will have expertise in both yeast and bacteria biosynthesis as well as chemical synthesis of cannabinoids. Additionally, it will be a commercial company with cumulative revenues of over US$2.5m since December 2019 stemming from the sale of cannabichromene (CBC). The acquisition is expected to close in the coming weeks.We have adjusted our valuation to US$242m or US$20.03 per basic share, from US$236m or US$29.27 per basic share. The total valuation rose due to higher net cash following a US$12m (gross) calendar Q221 financing, while the per-share value decreased due to a higher number of shares outstanding.Click here to view the full report or here to sign up to receive research as it is published.All reports published by Edison are available to download free of charge from its website www.edisongroup.com.About Edison: Edison is a leading research and investor relations consultancy, connecting listed companies to the widest pool of global investors. By focusing on the volume and quality of investors reached - across institutions, family offices, wealth managers and retail investors - Edison can create and gauge intent to purchase, even in the darkest pools of capital, and then make introductions via non-deal roadshows, events or virtual meetings.Having been the first in-market 17 years ago, Edison now has more than 100 analysts covering every economic sector. Headquartered in London, Edison also has offices in New York, Frankfurt, Amsterdam and Tel Aviv and a presence in Athens, Johannesburg and Sydney.Edison is authorised and regulated by the Financial Conduct Authority.Edison is not an adviser or broker-dealer and does not provide investment advice. Edison's reports are not solicitations to buy or sell any securities.For more information, please contact Edison:Maxim Jacobs +1 646 653 7027 healthcare@edisongroup.comJyoti Prakash +91 981 880 393 healthcare@edisongroup.comLearn more at www.edisongroup.com and connect with Edison on:LinkedIn www.linkedin.com/company/edison-group-/Twitter www.twitter.com/Edison_Inv_ResYouTube www.youtube.com/edisonitvSOURCE: Edison Investment Research LimitedView source version on accesswire.com: https://www.accesswire.com/664736/InMed-Pharmaceuticals-INM-Acquiring-BayMedica