Eyenovia(US:EYEN)2025-03-20 20:05Business Combination - Eyenovia entered into a non-binding letter of intent for a proposed business combination with Betaliq, a clinical stage pharmaceutical company focused on Glaucoma [4]. - The proposed transaction is structured as a reverse merger, with Betaliq becoming a wholly-owned subsidiary of Eyenovia [5]. - Betaliq stockholders are expected to receive approximately 83.7% of the equity of the combined company, while Eyenovia stockholders would own approximately 16.3% [9]. - The valuation for Betaliq is approximately $77 million, while Eyenovia is valued at approximately $15 million [9]. - The completion of the business combination is subject to satisfactory due diligence, board approvals, and other customary closing conditions [12]. - The exclusivity period for negotiations ends on May 16, 2025, but may be extended [11]. - If the business combination is not completed, Eyenovia may need to evaluate other strategic alternatives, which could negatively impact stockholders [19]. - Forward-looking statements indicate uncertainties regarding the completion of the business combination and its potential benefits [24]. Financial Position - As of December 31, 2024, Eyenovia had approximately $2.1 million in cash [14]. - Eyenovia anticipates incurring substantial transaction costs related to the business combination, including legal and advisory fees [22].