Priveterra Acquisition in an 8-K said its rescheduled shareholder meeting to vote on the proposed merger with Aeon Biopharma will now be adjouned until June 26 at noon Eastern time. This is the fifth postponement in the last two weeks. As with the previous postponements, the latest is “to allow additional time for the company to engage with its stockholders,” Priveterra said in the filing.
Stockholders who wish to withdraw their redemption request may still do so prior to the rescheduled meeting.
Priveterra in April lowered the minimum cash closing condidition to $40 million from the initial $45 million. The expense cap for Priveterra was increased by $300,000 to $10.3 million.
Terms also allow either party to terminate the deal if it does not close by July 31.
AEON is a clinical-stage biopharmaceutical company focused on developing a proprietary botulinum toxin complex for the treatment of multiple debilitating medical conditions.
