An Alluring Acquisition Proposal Is Raising Pasithea (KTTA) Stock Up 26% Today

Pasithea Therapeutics Corp. (NASDAQ: KTTA) surged by a remarkable 26% to $0.5040 during early trading on Monday. In the previous session, KTTA witnessed a substantial increase of 14.29%, closing at $0.40. The biotechnology company, specializing in groundbreaking medical advancements, has attracted significant attention following an acquisition offer.

Who Made Proposal To Acquire KTTA?

Lucy Scientific Discovery Inc. (LSDI), a licensed producer of compounds for medicinal products, has made an intriguing proposal to acquire all outstanding shares of common stock from Pasithea (KTTA). This significant development aims to create immediate value for both companies and their respective shareholders.

Top 5 AI Stocks to Buy for 2023

The artificial intelligence (AI) revolution is already here. And it's about to change everything we know about everything. According to Grand View Research, the global AI boom could grow from about $137 billion in 2022 to more than $1.81 trillion by 2030. And investors like you always want to get in on the hottest stocks of tomorrow. Here are five of the best ways to profit from the AI boom.

Click Here to Download the FREE Report.


Proposal Details: Premium Offer And Cash Component

Under the proposed terms, Lucy Scientific offers an enticing deal to Pasithea. For each share of KTTA common stock, Lucy Scientific proposes a payment of $0.60 in cash along with $0.25 cents in LSDI stock. This offer presents a substantial 112.50% premium over KTTA’s share price, providing an opportunity for Pasithea shareholders to realize significant value. Notably, the cash component alone represents a remarkable 50% premium.

Leveraging KTTA’s Assets: Cash And Clinical Development Program

Lucy Scientific recognizes the considerable potential within Pasithea’s assets. Pasithea currently holds approximately $30,000,000 in cash, and Lucy Scientific believes its offer will unlock immediate value from this cash portion. Additionally, Lucy Scientific plans to leverage its expertise and execute its business plan, providing Pasithea shareholders with further upside participation through the inclusion of LSDI stock. Moreover, to prioritize shareholder interests, Lucy Scientific intends to explore strategic alternatives for the divestiture of KTTA’s clinical development program.

Enhanced Liquidity And Market Presence

Lucy Scientific, as an actively traded NASDAQ company, possesses a significant advantage in terms of liquidity and market presence. With an average daily dollar trading volume exceeding $1.8 million, Lucy Scientific’s trading volume surpasses KTTA’s by more than 100 times. This substantial increase in liquidity could significantly benefit Pasithea shareholders, offering them improved trading opportunities and enhanced marketability for their investments. In the event that Pasithea’s Board of Directors does not endorse the proposal, Lucy Scientific remains prepared to directly present it to KTTA shareholders.

KTTA To Showcase Pre-Clinical Outcomes At NF Conference:

Pasithea’s pre-clinical results for its lead drug candidate, PAS-004, have been accepted for a poster presentation at the upcoming 2023 Neurofibromatosis (NF) Conference in Scottsdale, Arizona. This acknowledgment signifies Pasithea’s commitment to advancing its research and development efforts, underscoring the potential value that Lucy Scientific aims to leverage through its proposed acquisition.

Most Popular

Related Posts