NeOnc board approves step toward $50M Quazar deal, MENA expansion; shares up 62%

7 hours ago 2
  • NeOnc Technologies (NASDAQ:NTHI) received board approval for its planned $50M equity deal with Quazar Investment.
  • The non-binding term sheet includes a $25/share capital raise, with 70% for stock purchase and 30% for MENA clinical expansion.
  • The deal aims to fund trials and infrastructure in the UAE and broader MENA region.
  • Remaining steps include forming NuroMENA and NuroCure, sublicensing key assets, and finalizing agreements and a two-year plan.
  • NeOnc has 120 days to complete all conditions for the transaction to close.
  • NTHI shares up nearly 62% premarket on Thursday.
  • Source: Press release
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