Company: MIRA
Filing Date: 2025-07-29
Form Type: PRER14A
Source: 0001641172-25-021434
Chunk: 22

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-07-29
Form: PRER14A
Chunk 22
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by and Company (NYSE: LLY), Johnson & Johnson (NYSE: JNJ), AbbieVie Inc (NYSE:ABBV), Merck & Co., Inc. (NYSE:MRK), Amgen Inc. (Nasdaq:AMGN), Gilead Sciences, Inc. (Nasdaq:GILD), Pfizer Inc. (NYSE:PFE), Bristol-Myers Squibb Company (NYSE:BMY), Biogen Inc. (NYSE:BIIB) and Organon & Co. (NYSE:OGN). Moore also assumed that the FDA timelines and drug development process for these comparable companies presented in the forecast would be similar to the timeline for SKNY. Additionally, SKNY presented forecasts of the anticipated demand over the next few years for its pharmaceutical products. This included the expected prevalence of smoking and obesity across certain geographic and existing treatment gaps. In addition to the above, Moore held discussions with certain members of the management of MIRA and SKNY about the Merger, and the past and current business operations of MIRA and SKNY, the financial condition and future prospects and operations of MIRA and SKNY, and certain other matters Moore believed necessary or appropriate for its inquiry. For a summary of Moore’s fairness opinion and valuation report, please see page 27.

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Overview of the Merger Agreement and Agreements Related to the Merger Agreement

Merger Consideration and Exchange Ratio (see page 32)

Pursuant to the Merger Agreement, at the Effective Time, each share of SKNY Common Stock outstanding immediately prior to the Effective Time will be automatically converted solely into the right to receive the number of shares of MIRA Common Stock as determined by the Exchange Ratio.

No fractional shares of MIRA Common Stock will be issued in connection with the Merger, and no certificates or scrip for any such fractional shares will be issued. Any fractional shares of MIRA Common Stock that a holder of SKNY Common Stock would otherwise be entitled to receive will be aggregated with all fractional shares of MIRA Common Stock issuable to such holder and any remaining fractional shares will be rounded up to the nearest whole share.

The Exchange Ratio is based upon a SKNY valuation of $30.5 million and a MIRA valuation of $30 million, as determined by Moore. For a summary of Moore’s fairness opinion and valuation report, please see page 27.

Immediately following the Merger, the pre-Merger equity holders of MIRA are expected to hold approximately 50% of