Business
Update re. Economic Interest in AZD1656
Update re. Economic Interest in AZD1656.
About this update from Caledonian Holdings Plc.
[{"type":"text","content":"\n\n21 September 2023\nVela Technologies plc\n(\"Vela\" or \"the Company\")\n \nUpdate on Put Option for potential sale of Economic Interest in AZD1656\nFurther to the Company's announcements on 15 August 2023, 7 September 2023 and 8 September 2023, the Board of Vela (AIM: VELA), an AIM-quoted investing company focused on early-stage and pre-IPO disruptive technology investments, notes the announcement made by Murphy Canyon Acquisition Corp. (NASDAQ: MURF) (\"Murphy\") that at the special meeting of stockholders held yesterday, its initial business combination with Conduit Pharmaceuticals Limited (\"Conduit\") has been approved.\n \nAn extract of the Murphy announcement is set out below and a link to the announcement can be found here:\n \nhttps://www.accesswire.com/786091/murphy-canyon-acquisition-corp-announces-stockholder-approval-of-the-proposed-combination-with-conduit-pharmaceuticals-limited\n \nOn 20 April 2023, Vela announced that the Company entered into a put option agreement to give the Company the right, but not the obligation (\"the Option\"), to sell its economic interest in the commercialisation of the Covid-19 application of AZD1656 for a total consideration of £4.0 million. The Option was granted by Conduit and its prospective parent company, Murphy, a Company listed on NASDAQ.\n \nOn 15 May 2023, Vela announced that Murphy had filed the Form S-4 Registration Statement and preliminary proxy statement with the SEC.\n \nFollowing the approval of the business combination of Conduit and Murphy by Murphy shareholders, the Board of Vela intends to exercise the Option following the satisfaction or waiver of the remaining closing conditions as stated in the Murphy announcement.\n \nThe Company will release further announcements as and when appropriate.\n \nExtract from Murphy announcement\n \nSAN DIEGO, CA / ACCESSWIRE / September 20, 2023 / Murphy Canyon Acquisition Corp. (Nasdaq:MURF) (\"MURF\" or \"Murphy Canyon\"), a special purpose acquisition company, announced today that at a special meeting of the MURF stockholders (the \"Special Meeting\") held today, MURF's stockholders voted in favor of the proposed business combination (the \"Business Combination\") with Conduit Pharmaceuticals Limited (\"Conduit\") and the related proposals. As a result, the completion of the Bus...