Tryp Therapeutics Announces Overwhelming Shareholder Approval for Arrangement Agreement

Tryp Therapeutics, Inc., a clinical-stage biotechnology company, has announced a significant milestone with the overwhelming approval of its arrangement with Exopharm Limited CAN 163 765 991 by its securityholders. This approval came during the annual general and special meeting of securityholders held on March 8, 2024. Furthermore, the Supreme Court of British Columbia granted its Final Order for the arrangement on March 11, 2024.

The Arrangement Resolution, essential for the arrangement's approval, required at least two-thirds (66 2/3%) of the votes. The votes included those from shareholders and a class consisting of shareholders, option holders, and certain warrant holders. Out of 37,738,906 common shares voted, approximately 99.92% supported the Arrangement Resolution, and other meeting resolutions also passed with overwhelming majorities.

The closure of this arrangement is contingent on meeting certain closing conditions, including final approvals from the court, stock exchange, and regulatory bodies. The parties anticipate finalizing the arrangement in late March 2024. Detailed information about the arrangement and its anticipated benefits for shareholders can be found in the Company’s management information circular.