MergerMay 1, 2026, 05:21 PM
Lunai Bioworks Acquires Neurobridge IP for $20M in Preferred Stock
AI Summary
Lunai Bioworks Inc. completed the acquisition of Neurobridge IP Holdings Incorporated on May 1, 2026, through a merger with its subsidiary. The acquisition, valued at $20 million, was paid entirely with 8 shares of newly designated Series B Convertible Preferred Stock. Neurobridge IP Holdings' sole assets were a multi-jurisdictional patent portfolio, with no operating infrastructure or liabilities. The Series B Preferred Stock is convertible into common stock at $1.50 per share, but requires stockholder approval before conversion.
Key Highlights
- Lunai Bioworks acquired Neurobridge IP Holdings Inc. on May 1, 2026.
- Acquisition consideration totaled $20,000,000 in Series B Convertible Preferred Stock.
- Neurobridge IP Holdings' sole assets were a multi-jurisdictional patent portfolio.
- Series B Preferred Stock has a fixed conversion price of $1.50 per share.
- Conversion of Series B Preferred Stock requires stockholder approval under Nasdaq Listing Rule 5635.
- Lunai Bioworks committed to seek stockholder approval within 180 days of closing.
- No cash consideration was paid in connection with the merger.