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Neurotrope Shareholders to Own 49 Percent of Petros Under Revised Merger Agreement with Metuchen
Neurotrope Shareholders, Currently Representing 34 Percent of Shares Outstanding, Sign Agreement in Support of Merger Petros to Grow Stendra® and Explore
About this update from Nexttrip, Inc.
[{"type":"text","content":"Neurotrope Shareholders, Currently Representing 34 Percent of Shares Outstanding, Sign Agreement in Support of Merger\n Petros to Grow Stendra® and Explore Non-Prescription / Over-the-Counter Strategies for Stendra® in Partnership with Foundation Consumer Healthcare, a Juggernaut Capital portfolio investment and One of the Largest Pure-Play OTC Companies in the U.S.\n Company to be Led by Fady Boctor as President and Chief Commercial Officer. John Shulman, Founder and Managing Partner of Juggernaut Capital Partners, will become Executive Chairman of the Board\n\n\nNEW YORK and MANALAPAN TOWNSHIP, N.J., Sept. 30, 2020 /PRNewswire/ -- Neurotrope, Inc. (Nasdaq: NTRP) and Metuchen Pharmaceuticals, L.L.C., a privately held biopharmaceutical company focused on innovative therapeutics for men's health conditions (\"Metuchen\"), today announced that they have entered into an amendment to their definitive merger agreement (\"Amended Merger Agreement\") under which the consideration due to Neurotrope stockholders will increase to 49% of the combined company on a pro forma basis and based upon the final Neurotrope common stock share count at close (Under terms of the Merger Agreement dated July 23, 2020, Neurotrope stockholders were to own approximately 22.5% of the combined company.) Neurotrope and Metuchen previously announced their intent to merge in an all-stock transaction resulting to form a NASDAQ-traded holding company to be named Petros Pharmaceuticals, Inc. (\"Petros\"). As part of the Amended Merger Agreement, Neurotrope shareholders currently representing 34% of the Company's outstanding shares have signed a shareholder rights agreement in support of the merger.\nConsistent with the original Merger Agreement, under terms of the Amended Merger Agreement, upon closing of the transaction, Neurotrope Bioscience Inc.'s (\"NBI\") current lead asset, Bryostatin-1 to treat neurodegeneration, and substantially all of its existing assets, operations and liabilities, except for cash retained by Petros in accordance with the terms of the Amended Merger Agreement, will be spun-out into a new, separately traded company. The Amended Merger Agreement has been approved by the boards of directors of both companies. \n\"With this amendment, Neurotrope investors are being offered nearly half ownership in Petros while retaining full interest in NBI...