Company: MIRA
Filing Date: 2025-06-17
Form Type: PREM14A
Source: 0001641172-25-015340
Chunk: 69

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-06-17
Form: PREM14A
Chunk 69
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the “Merger”).

Form of the Merger

Pursuant to the Merger Agreement, subject to the terms and conditions set forth therein upon the consummation of the transactions contemplated by the Merger Agreement, Merger Sub will merge with and into SKNY, with SKNY continuing as the surviving corporation in the Merger and a wholly-owned subsidiary of MIRA. In the Merger, all of the issued and outstanding SKNY Shares immediately prior to the Effective Time shall no longer be outstanding and shall be exchanged for and automatically converted into that certain number of fully paid and nonassessable MIRA Common Shares as calculated in accordance with the terms of the Exchange Ratio. It is anticipated that the initial Exchange Ratio is estimated to result in SKNY shareholders holding 50% of the issued and outstanding shares of MIRA Common Shares.

Merger Consideration and Exchange Ratio.

At the Effective Time, each outstanding share of SKNY Common Stock, will be converted into the right to receive such number of shares of common stock of MIRA Common Stock as is calculated in to the Exchange Ratio . 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. Itis expected that shareholders of SKNY will receive one share of MIRA Common Stock for each share of SKNY Common Stock held (the “Merger Consideration”). The MIRA Common Stock issued as the consideration will not be registered for trading under the Securities Act.

Absence of Contingent Consideration

There are no contingent value rights, earnouts, or milestone payments associated with the merger consideration

Exchange Procedures

Pursuant to the terms of the Merger Agreement, prior to or at the Closing, MIRA shall designate its transfer agent, or a depository, bank or trust company reasonably acceptable to MIRA to act as the exchange agent in connection with the Merger, or the Exchange Agent, and enter into an exchange agreement, in a form reasonably acceptable to MIRA, for the payment of the Merger Consideration. Prior to or substantially concurrently with the Effective Time, MIRA shall deposit or cause to be deposited with the Exchange Agent, for the benefit of the holders of SKNY Common Stock for exchange in