Pasithea Therapeutics Confirms Receipt of Unsolicited Proposal from Lucy Scientific Discovery Inc.
06 Junho 2023 - 5:30PM
Pasithea Therapeutics Corp. (NASDAQ: KTTA) (“Pasithea” or the
“Company”), a biotechnology company focused on the discovery,
research, and development of innovative treatments for central
nervous system (CNS) disorders, confirmed it has received an
unsolicited proposal from Lucy Scientific Discovery Inc. (NASDAQ:
LSDI) (“Lucy”) to acquire all outstanding shares of Pasithea common
stock for per share consideration consisting of $0.60 in cash plus
$0.25 worth of Lucy common stock.
Pasithea’s Board of Directors and management
team regularly review opportunities to generate shareholder value
and are committed to acting in the best interests of all
shareholders.
Consistent with its fiduciary duties, Pasithea’s
Board of Directors, in consultation with its independent financial
and legal advisors, will carefully review and evaluate the proposal
from Lucy to determine the course of action that it believes is in
the best interests of the Company and its shareholders.
Pasithea shareholders do not need to take any
action at this time.
About Pasithea Therapeutics
Corp.
Pasithea Therapeutics is a biotechnology company
primarily focused on the discovery, research and development of
innovative treatments for central nervous system (CNS) disorders
and RASopathies. With an experienced team of experts in the fields
of neuroscience, translational medicine, and drug development,
Pasithea is developing new molecular entities for the treatment of
neurological disorders, including Neurofibromatosis type 1 (NF1),
Amyotrophic Lateral Sclerosis (ALS) and Multiple Sclerosis
(MS).
Forward Looking Statements
This press release contains statements that
constitute “forward-looking statements.” Forward-looking statements
are subject to numerous conditions, many of which are beyond the
control of the Company. While the Company believes these
forward-looking statements are reasonable, undue reliance should
not be placed on any such forward-looking statements, which are
based on information available to the Company on the date of this
release. These forward-looking statements are based upon current
estimates and assumptions and are subject to various risks and
uncertainties, including, without limitation, those set forth in
the Company’s filings with the U.S. Securities and Exchange
Commission (SEC). Thus, actual results could be materially
different. The Company undertakes no obligation to update these
statements whether as a result of new information, future events or
otherwise, after the date of this release, except as required by
law.
ContactPatrick GaynesCorporate
Communicationspgaynes@pasithea.com
Pasithea Therapeutics (NASDAQ:KTTAW)
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