Titan Pharmaceuticals Enters Into Merger Agreement With KE Sdn. Bhd.

Core Points - Titan Pharmaceuticals, Inc. has entered into a Merger Agreement with KE Sdn. Bhd. for a reverse merger transaction, which has been approved by Titan's board of directors [1][3] - The merger involves two steps: the merger of Titan with a wholly owned subsidiary of BSKE Ltd., followed by a share exchange agreement for KE shareholders [1] - Completion of the merger is contingent upon approval from Titan's and KE's stockholders, Nasdaq listing approval for BSKE, and satisfaction of other customary conditions [3] Company Overview - Titan Pharmaceuticals is a development stage company based in South San Francisco, CA, previously focused on developing proprietary therapeutics using ProNeura® technology [5] - KE Sdn. Bhd. is a Malaysian private limited company that distributes human capital management solutions and consulting services in the Asia Pacific region [6] Ownership Structure Post-Merger - Following the merger, existing security holders of KE and Titan (excluding certain stakeholders) are expected to own approximately 86.7% and 13.3% of the combined company, respectively [2] - Dato' Seow Gim Shen, Chairman and CEO of Titan, is expected to own 48.9% of the outstanding shares of the combined company after the merger [2]