Pharmaceutical firm agrees American merger
Pharmaceutical firm 4D pharma is to seek a NASDAQ listing after agreeing a deal with an American investor that gives it access to $14.6m (£11.1m).
The Leeds-headquartered company is to merge with Longevity Acquisition Corporation, which is a special purpose acquisition company, in a deal which values the business at £140m.
It is priced at £1.10 per 4D share, an 18% premium on last night's closing price of 93p. However 4D's share price is at its lowest level for nearly two months, having been as high as 183p in early October.
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