08:49 AM EDT, 05/17/2024 (MT Newswires) -- Aeterna Zentaris ( AEZS ) said Friday that it has finalized certain details regarding the previously reported merger with Ceapro ( CRPOF ) .

On May 3, Aeterna completed a share consolidation of one post-consolidation common share for every four pre-consolidation common shares. As a result, the exchange ratio to be used in connection with the issuance of common shares to Ceapro ( CRPOF ) shareholders under the transaction has been adjusted. On closing of the deal, Ceapro ( CRPOF ) shareholders will now receive 0.02360 of a common share for each Ceapro ( CRPOF ) share held.

As of the close of business on May 29, the common shareholders will receive 0.47698 of a common share purchase warrant on May 31 for each post-consolidation common share.

The Toronto Stock Exchange and Nasdaq have determined that the common shares will trade on a due bill basis from the opening of markets on May 29 to May 31, inclusive.

Ex-distribution trading in the common shares will begin as of the opening of markets on June 3, as of which date purchases of common shares will no longer have the attaching entitlement to transaction warrants. The due bill redemption date will be June 4.

The deal is expected to close by June 3.