02:02 PM EDT, 05/27/2025 (MT Newswires) -- Awakn Life Sciences ( AWKNF ) on Tuesday announced that Solvonis Therapeutics has acquired all of its outstanding common shares, restricted share units (RSUs), and deferred share units (DSUs), pursuant to an arrangement under an agreement dated February 22 between the companies.

According to the arrangement agreement, all holders of outstanding common shares will receive 46.67 ordinary shares in the capital of Solvonis for each one common share held. Holders of RSUs and DSUs will receive 46.67 Solvonis shares for each one DSU and one RSU, respectively.

A statement noted that all issued and outstanding warrants have been exchanged for new Solvonis warrants with adjustments to the number of Solvonis shares issued upon exercise of the warrants and the exercise price.

The company said that with the completion of the arrangement, the common shares will be delisted from the Canadian Securities Exchange on May 28, and from the OTCPink Market shortly thereafter.