Stealth BioTherapeutics (MITO) Announces Receipt of Preliminary Non-Binding Proposal

  • June 27, 2022


StockStealth BioTherapeutics CorpSymbolMITO
Date Announced06/27/2022Source Press Release
TypeUnsolicited BidAcquiring Company/Person Stealth Parent Limited
Date of Confirmation: 08/01/2022Price at Confirmation: $0.24
Potential Profit: -10.37%Annualized Profit: -108.15%

Stealth BioTherapeutics Corp (MITO), a clinical-stage biotechnology company announced that its Board of Directors has received a preliminary non-binding proposal letter dated June 24, 2022 from Morningside Venture (I) Investments Ltd. for itself and on behalf of its affiliates and J. Wood Capital Advisors LLC to acquire all outstanding ordinary shares of the Company not already beneficially owned by Morningside, including Shares represented by American Depositary Shares of the Company, in a going-private transaction for US$0.026 in cash per Share and US$0.313 in cash per ADS.

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