10:28 AM EDT, 06/02/2025 (MT Newswires) -- Atai Life Sciences ( ATAI ) said Monday it has entered into a definitive agreement to merge with private biopharmaceutical firm Beckley Psytech in an all-share transaction, subject to success criteria of the BPL-003 phase 2b study.

Under the terms of the deal, Beckley's shareholders other than Atai will be issued approximately 105 million new shares as consideration for the remaining shares of Beckley not held by Atai. The newly issued shares equate to around 31% of the combined company on a fully diluted basis and value Beckley at approximately $390 million, Atai said in a statement.

The newly issued shares will be subjected to a lock-up, where 1/12 of the shares are released every month, Atai said.

Beckley intends to distribute Eleusis Holdings and its subsidiaries, which hold assets and funding related to its second clinical-stage asset ELE-101, out of Beckley before the closing of the transaction, according to the statement.

The transaction is expected to close in H2, Atai said.

Price: 2.37, Change: +0.06, Percent Change: +2.38