Titan Pharmaceuticals in Reverse Merger Agreement With KE Sdn. Bhd.

Dow Jones08-20

By Denny Jacob

Titan Pharmaceuticals entered into an agreement to combine with KE Sdn. Bhd. in a reverse merger.

The development stage company said the agreement, which still must be approved by both companies' shareholders, will result in it combining with KE in a two-step process.

TTNP Merger Sub, a subsidiary of BSKE, will merge with and into Titan, leading to Titan ultimately being the surviving corporation of the merger and a subsidiary of BSKE. Afterwards, shareholders of KE may elect to enter into a share exchange agreement with Titan and BSKE, which each KE shareholder can enter into. Each KE shareholder entering into the agreement will contribute and exchange all of their KE shares in exchange for ordinary shares of BSKE.

Titan may terminate the merger agreement if fewer than all KE shareholders enter into the share exchange agreement within a certain time period.

Write to Denny Jacob at denny.jacob@wsj.com

(END) Dow Jones Newswires

August 19, 2024 16:37 ET (20:37 GMT)

Copyright (c) 2024 Dow Jones & Company, Inc.

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