What's Happening With Pasithea Therapeutics Stock Today?

Benzinga ·  07/21/2023 00:02

Pasithea Therapeutics Corp (NASDAQ:KTTA) shares are trading higher after the company confirmed that an independent special committee of its Board of Directors thoroughly reviewed and rejected an unsolicited, non-binding acquisition proposal from Lucy Scientific Discovery Inc (NASDAQ:LSDI). Under the terms of the offer made on June 5, Lucy proposed to pay $0.60 in cash and 0.25 cents in Lucy stock for every share of Pasithea common stock. Since Pasithea's stock closed at $0.35 per share on June 1, 2023, the Proposal of $0.85 per share equates to a 142% premium to Pasithea's share price. The cash component alone represents a 71% premium. The Special

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