Reunion Neuroscience shareholders approve proposed plan of arrangement

Reunion Neuroscience announced the voting results of the special meeting of shareholders of Reunion held yesterday, July 12, 2023. At the Meeting, shareholders voted in favour of a special resolution to approve the proposed plan of arrangement under Section 192 of the Canada Business Corporations Act, whereby affiliates of MPM BioImpact would acquire Reunion in an all-cash transaction valued at approximately $13.1M. Pursuant to the terms and conditions of the Arrangement, all Shareholders will be entitled to receive $1.12 in cash for each common share held immediately prior to the effective time of the Arrangement. The Arrangement Resolution required the approval of not less than two-thirds of the votes cast by shareholders present in person or represented by proxy at the Meeting. Shareholders approved the Arrangement Resolution at the Meeting, with 99% of the votes cast at the Meeting in favour of the Arrangement. The Arrangement remains subject to receipt of a final order of the Ontario Superior Court of Justice with respect to the Arrangement and certain other closing conditions described in Reunion’s Management Information Circular dated June 13, 2023. Subject to the receipt of the Final Order, all required regulatory approvals and satisfaction of all closing conditions, the Arrangement is expected to be completed on or around July 21, 2023.