01:41 PM EDT, 03/26/2024 (MT Newswires) -- Check-Cap ( CHEK ) shares soared nearly 20% in recent Tuesday trading, extending gains a day after the company said it has agreed to merge with fintech firm Nobul AI.

Under the agreement announced late Monday, shareholders of Nobul will become the majority shareholders of the combined company that will apply for listing on the Nasdaq and Toronto Stock Exchange.

Nobul Chair and Chief Executive Regan McGee will lead the combined company's executive team, the companies said.

Terms of the agreement weren't disclosed.

The merger has been approved by the boards of both companies but is still subject to the approval by Check-Cap ( CHEK ) shareholders.

Price: 2.31, Change: +0.38, Percent Change: +19.50