Company: MIRA
Filing Date: 2025-06-17
Form Type: PREM14A
Source: 0001641172-25-015340
Chunk: 20

Company: MIRA PHARMACEUTICALS, INC.
Filing Date: 2025-06-17
Form: PREM14A
Chunk 20
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 Agreement

Merger Consideration and Exchange Ratio (see page 34)

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 the outstanding shares of MIRA Common Stock and the pre-Merger equity holders of SKNY are expected to hold approximately 50% of the outstanding shares of MIRA Common Stock. The Exchange Ratio is 1:1. Under the Merger Agreement, notwithstanding the relative values of MIRA and SKNY, in no instance shall SKNY receive an amount of MIRA Common Stock pursuant to the Merger in an amount greater than 50% of MIRA, as determined as of the date of the closing of the Merger.

For a more complete description of the Merger, the potential adjustments in the Exchange Ratio and the calculation of MIRA’s net cash, please see the section titled “ The Merger Agreement —Merger Consideration and Exchange Ratio.”

Treatment of SKNY Stock Options

SKNY currently has no stock options outstanding.

Treatment of SKNY Warrants

Under the terms of the Merger Agreement, the warrant to purchase shares of SKNY Common Stock that is outstanding will be converted into and become a warrant to purchase shares of MIRA Common Stock, and MIRA will assume each SKNY warrant in accordance with its terms.

Conditions to the Merger (see page 35)

The obligations to consummate the Merger and the other Contemplated Transactions are subject to the satisfaction or waiver, on or prior to the Effective Time, of the conditions set forth in the section entitled