MergerJul 13, 2026, 08:02 AM
Matinas BioPharma to merge with GH Power, sell nanotech unit
AI Summary
Matinas BioPharma Holdings, Inc. announced a definitive business combination agreement with GH Power Inc. to create a new NYSE-listed critical minerals and clean energy company, GHP International. Concurrently, Matinas will sell its Matinas BioPharma Nanotechnologies, Inc. subsidiary, including MAT2203 and the LNC technology platform, to Azurity Pharmaceuticals for $4.0 million upfront, up to $17.5 million in potential milestones, and future royalties. Additionally, Matinas completed financings, raising $575,000 from a PIPE and approximately $2.6 million from a warrant inducement, with proceeds intended for working capital.
Key Highlights
- Matinas BioPharma to merge with GH Power, forming GHP International, a clean energy company.
- Combined company will focus on modular carbon-free energy, green hydrogen, and critical materials.
- Existing GH Power equityholders to own approximately 91% of GHP International post-merger.
- Matinas to sell its Nanotechnologies subsidiary (MAT2203, LNC platform) to Azurity Pharmaceuticals.
- Sale to Azurity includes $4.0 million upfront, up to $17.5 million in milestones, and future mid-single-digit royalties.
- Matinas raised $575,000 gross from a Series D Convertible Preferred Stock and Warrants PIPE.
- Matinas raised approximately $2.6 million gross from an inducement for existing warrant exercises.
- Business Combination and Stock Sale are expected to close in the fourth quarter of 2026.
Price Impact
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