Shots:

• Priveterra to acquire all of the outstanding equity interests of AEON in exchange for 16.5M shares of Priveterra’ common stock at $10/share. The combined company is expected to have a post-money equity value of $475.5M, and $276M in gross cash proceeds. The transaction is expected to be close in H1’23
• AEON stockholders are eligible for ~16,000,000 additional shares upon the achievement of clinical development milestones (i) 1,000,000 shares on or before June 2025 upon initiation of P-III study for migraine (ii) 4,000,000 shares each on or before Nov 2026 & June 2029 upon the US FDA’s acceptance of BLA review for cervical dystonia & episodic migraine (iv) 7,000,000 shares on or before June 2028 for chronic migraine
• The combined company will rename AEON Biopharma, Inc. & is expected to list on Nasdaq under the ticker symbol "AEON". The P-II study results of ABP-450 for episodic migraine are expected in Q4’23

Ref: Globenewswire | Image: AEON Biopharma