Check-Cap to combine with Keystone Dental Holdings
- Check-Cap (NASDAQ:CHEK) said on Wednesday that it had entered into a business combination agreement with Keystone Dental Holdings.
- After deal close, Keystone Dental stockholders will become the majority shareholders of the combined company.
- CHEK added that the combined company will trade on Nasdaq under the symbol “KSD”, with the executive team of KSD serving as the executive team of the combined company, led by Keystone’s CEO Melker Nilsson.
- Keystone security holders are expected to own about 85% of the combined company, representing an equity valuation of $225M.
- CHEK security holders will own about 15% of the combined company, representing an equity valuation of $39.7M.
- Press Release