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Reneo Pharmaceuticals (RPHM) has issued an announcement.
Reneo Pharmaceuticals has announced a significant step forward with a merger agreement involving OnKure, Inc. Upon completion, this strategic move will see OnKure merge into two of Reneo’s subsidiaries, eventually becoming a fully owned subsidiary of Reneo. This tax-free reorganization is expected to result in OnKure shareholders owning a majority stake in the combined entity. The agreement also includes a private investment in public equity (PIPE) transaction, raising $65 million to fund the merged company. The merger is subject to standard closing conditions, including approvals from both companies’ shareholders and regulatory bodies.
See more insights into RPHM stock on TipRanks’ Stock Analysis page.