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Chromocell Therapeutics Corp ( (CHRO) ) has shared an announcement.
On April 16, 2025, Channel Therapeutics Corporation, a Nevada corporation, entered into a merger agreement with LNHC, Inc., and Ligand Pharmaceuticals Incorporated, with the intention of merging LNHC into a wholly-owned subsidiary of Channel. The merger aims to qualify as a tax-free reorganization and involves a complex exchange of shares, with Ligand expected to own a significant portion of the merged entity. The merger is subject to various conditions, including stockholder approvals and regulatory requirements. Additionally, Channel has entered into a securities purchase agreement with LNHC and other investors for a PIPE financing of approximately $50.1 million, which is contingent upon the merger’s completion. The merger and financing are expected to significantly impact the ownership structure and operations of Channel, positioning it under a new name, Pelthos Therapeutics Inc., and potentially affecting its market presence.
More about Chromocell Therapeutics Corp
YTD Price Performance: 74.31%
Average Trading Volume: 597,273
Technical Sentiment Signal: Strong Buy
For a thorough assessment of CHRO stock, go to TipRanks’ Stock Analysis page.