• Reunion Neuroscience Inc. (NASDAQ: REUN) shares are trading lower on Friday after inking a take-private deal with MPM BioImpact, where MPM would acquire Reunion for $13.1 million under the Canadian Business Corporations Act. 

• Per the terms of the agreement, Reunion will receive $1.12 in cash for each share held in the company. 

• In the last weeks of December 2022, the company struggled to remain NASDAQ listed as the bid price of the company was below $1.00. 

• Based on the Bank of Canada's daily exchange rate as of the close of business on May 31, 2023, this would be approximately $1.52 per share in Canadian dollars.

• The deal represents a premium of approximately 43.1% over the trailing 30-trading-day volume weighted average price.

• The partners expect to close the arrangement in the third quarter of 2023.

• Price Action: REUN shares are trading higher by 1.46% to $1.09 on the last check Friday.

Don't miss real-time alerts on your stocks - join Benzinga Pro for free! Try the tool that will help you invest smarter, faster, and better.

This article What's Going On With Reunion Neuroscience Stock Today originally appeared on Benzinga.com

.

© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.