![]() The transaction was expected to be completed in the second or third quarter of 2022, with the current owners of Eleusis retaining approximately 49 percent ownership of the combined company. The combined enterprise value of the merged company was estimated at approximately $446 million. But the deal was terminated on June 9 due to “unfavorable market conditions.” II (“SPKB”) (NASDAQ: SPKB/SPKBU/SPKBW), a publicly traded special purpose acquisition company, announced they signed a definitive business combination agreement expected to make Eleusis a public company. In January, Eleusis, a clinical-stage life science company and Silver Spike Acquisition Corp. Eleusis and Silver Spike Acquisition Corporation. Here are 7 of the more interesting mergers and acquisitions that the psychedelics movers and shakers are watching. “They each need another $200 million by the time they get this to medicine.” “I think Big Pharma’s starting to look at it,” O’Leary said, then predicted Atai Life Science, Compass Pathways and MindMed will have to merge. ![]() “The minute one of them gets to Stage 3, you’re going to lift all the tides,” he said. Does the psychedelics sector even need mergers and acquisitions? That was a question asked of “Shark Tank’s” Kevin O’Leary at the inaugural Benzinga Psychedelics Conference in April. But sometimes, market conditions are not ideal. In the developing merger and acquisitions scenario, psychedelics company leaders are hoping that mergers will help accelerate mainstream adoption and innovation, eventually leading to faster approval of psychedelics that are accessible and affordable. While the psychedelics industry gets its proverbial ducks in a row, there is a growing interest in sharing business opportunities to help companies jostle for market leadership in an ever-burgeoning marketplace.
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