On October 6, 2025, ESSA Pharma Inc. (NASDAQ: EPIX) announced that its securityholders approved the acquisition of all outstanding common shares by XenoTherapeutics, Inc., a non‑profit biotechnology company, through a statutory plan of arrangement. The approval was reached at a special meeting of securityholders held today, with 99.83% of votes cast by shareholders present in person or represented by proxy, 99.85% of votes cast by shareholders holding options to purchase common shares or pre‑funded warrants, and 99.48% of votes cast by shareholders excluding certain minority votes under the Multilateral Instrument 61‑101.
The arrangement is subject to the approval of the Supreme Court of British Columbia, with a hearing scheduled for October 7, 2025, and is expected to close on or about October 9, 2025. The plan includes compensation for named executive officers and, if the arrangement is terminated, provisions for voluntary liquidation and dissolution of ESSA Pharma. The transaction is structured as a capital return event, providing shareholders with cash proceeds and a contingent value right, thereby marking the end of ESSA Pharma’s operations as an independent biotech company.
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