Company: MIRA
Filing Date: 2025-06-17
Form Type: PREM14A
Source: 0001641172-25-015340
Chunk: 6

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-06-17
Form: PREM14A
Chunk 6
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 AND ANSWERS ABOUT THE SPECIAL MEETING AND THE MERGER</div>

The following section provides answers to frequently asked questions about the proposed merger transaction and the MIRA Pharmaceuticals, Inc. (“MIRA”) virtual special meeting of its stockholders (the “MIRA virtual special meeting”). This section, however, provides only summary information. For a more complete response to these questions and for additional information, please refer to the cross-referenced sections.

Q: What is the Merger?

MIRAPHARM Acquisition, Inc., a Delaware corporation and wholly owned subsidiary of MIRA (“Merger Sub”), and SKNY Pharmaceuticals, Inc., a Delaware corporation (“SKNY”), entered into the Agreement and Plan of Merger and Reorganization on June 16, 2025 (the “Merger Agreement”). The Merger Agreement, as it may be further amended from time to time, contains the terms and conditions of the proposed transaction among MIRA, Merger Sub and SKNY. Under the Merger Agreement, Merger Sub will merge with and into SKNY, with SKNY surviving as a wholly owned subsidiary of MIRA (the “Merger”).

At the effective time of the Merger (the “Effective Time”), each outstanding share of common stock of SKNY, $0.0001 par value per share (“SKNY Common Stock”), will be converted into the right to receive such number of shares of common stock of MIRA, $0.0001 par value per share (“MIRA Common Stock”) as is calculated in to the Exchange Ratio (the “Closing”). The Exchange Ratio is calculated using the relative company valuations of each of MIRA and SKNY where the MIRA share value is calculated on an as-issued basis and the SKNY share value is calculated on a fully diluted basis to include all issued SKNY options and warrants. After giving effect to the Closing, the SKNY holders will hold not more than 50% of the shares of the combined company.

Under the Exchange Ratio formula described in the Merger Agreement, immediately following the Merger, the pre-Merger equity holders of SKNY are expected to hold approximately 50% of the outstanding shares of MIRA Common Stock and the pre-Merger equity holders of MIRA are expected to hold approximately 50% of the outstanding shares of MIRA Common Stock, in each case, on a fully diluted basis using the treasury stock method. The Exchange Ratio formula is based upon the relative values of MIRA and SKNY, as determined by