Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.
Second Sight Medical Products Inc (NASDAQ:EYES) will acquire privately-held Nano Precision Medical Inc in an all-stock transaction.
ENTER TO WIN $500 IN STOCK OR CRYPTO
Enter your email and you'll also get Benzinga's ultimate morning update AND a free $30 gift card and more!
- Second Sight Medical develops implantable visual prosthetics.
- Under the agreement, Nano Precision Medical will merge with a wholly-owned subsidiary of Second Sight.
- The surviving company Nano Precision Medical will be owned by Second Sight. The newly-formed merged company will focus on developing innovative implants for chronic diseases.
- The combined company will be under NPM's co-founder, CEO, and Chairman, Adam Mendelsohn.
- Second Sight will issue approximately 134 million shares and acquire about 23% equity of the combined company.
- The transaction is expected to close in Q2 / Q3 of FY22.
- Nano Precision Medical's lead program, NPM-119, is a near clinical stage GLP-1 receptor agonist developed to treat patients with Type 2 diabetes for up to 6 months with a single, tiny subdermal implant.
- The first human trial for NPM-119 is anticipated by late 2022.
- Before the merger, Second Sight will provide $8 million to NPM for working capital and speed up pipeline programs. EYES shareholders will join NPM shareholders, including AstraZeneca plc (NASDAQ:AZN).
- AstraZeneca has been a strategic investor in NPM since 2016.
- Price Action: EYES shares are trading 8.57% higher at $1.52 during the premarket session on the last check Tuesday.
Crypto Whales Are Loading Up — Are You?
New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.