Company: MIRA
Filing Date: 2025-03-28
Form Type: 10-K
Source: 0001641172-25-001183
Chunk: 548

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-03-28
Form: 10-K
Item: Item 4
Chunk 548
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 transaction (the “Acquisition”). The acquisition
will bring SKNY-1, a novel oral drug candidate targeting weight loss and smoking cessation—two of the leading causes of preventable
death—into MIRA’s development pipeline. As part of the agreement, SKNY will provide a $5 million capital infusion in cash
or cash equivalents, further strengthening MIRA’s financial position and supporting future growth initiatives.

SKNY holds exclusive rights to its compounds in the
United States, Canada, and Mexico which is license from Miralogx, a related party of the Company. Under the terms of the LOI, SKNY will
merge into the Company through a stock exchange, with each outstanding share of SKNY’s common stock being exchanged for shares of
MIRA’s common stock. The exact exchange ratio will be determined by an independent third-party valuation firm (the “Independent
Valuator”) based on the relative values of both companies. The completion of the Acquisition is contingent upon the Independent
Valuator determining that SKNY’s valuation is at least equal to or greater than that of the Company.

Both parties have agreed to a 90-day mutual due diligence period, during
which they will work in good faith to negotiate and execute a definitive stock purchase agreement and any related transaction documents.
Upon completion of the Acquisition, all of SKNY’s assets, including its drug candidates, will become wholly owned by MIRA, further
expanding the Company’s development pipeline

ATM
Offering

From
January 1, 2025 through March 28, 2025, under the ATM Agreement, the Company sold and issued 2,802 shares of Common Stock at
an average price per share of $1.33, and received net proceeds of approximately $0.003 million, after deducting commissions and
other fees of $0.0003 million.

F-21

SIGNATURES

In
accordance with Section 13 or 15(d) of the Exchange Act, the registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.

    MIRA
    PHARMACEUTICALS, INC.

    Date:
    March 28, 2025
    By:
    /S/
    Erez Aminov

    Name:
    Erez
    Aminov

    Title:
    
    Chief
    Executive Officer

    (Principal
    Executive Officer)

    By:
    /S/