On October 9, 2025, ESSA Pharma Inc. announced that the acquisition of its common shares by XenoTherapeutics had been completed. Xeno Acquisition Corp., a wholly owned subsidiary of Xeno, purchased all outstanding common shares for approximately US$0.1242 per share, plus one contingent value right (CVR) per share.
The transaction includes a CVR that may pay up to US$0.14 per CVR, potentially totaling US$6.7 million, depending on the outcome of certain contingent liabilities. The Supreme Court of British Columbia approved the arrangement on October 7, 2025, and ESSA has requested that Nasdaq file a delisting application to remove its shares from the Nasdaq Capital Market.
The completion of the acquisition marks the end of ESSA’s independent operations and provides shareholders with a cash payout and a potential future value through the CVR. The transaction finalizes the company’s strategic shift from a clinical‑stage biotech to a capital return event.
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