Shots:

• Eleusis signs a SPAC merger with Silver Spike for an enterprise value of ~$446M,  $287.5M in gross proceeds from SPKB’s trust account, Eleusis shareholders & other investors will receive ~14% as an enterprise value of the combined company. The transaction is expected to close in Q2 or Q3’22
• Eleusis’s ELE-Psilo is a psilocybin-based drug, formulated for IV infusion to treat depression & is expected to enter the P-I trial in 2022. Eleusis will secure funds to expand its psychedelic drug therapy globally through its Andala subsidiary
• The current owners of Eleusis will obtain ~49% ownership of the combined company. The new company will trade on NASDAQ under the ticker “ELEU”

Ref: Businesswire | Image: Medcity News