08:40 AM EDT, 05/29/2024 (MT Newswires) -- PureTech Health ( PRTC ) said Wednesday that its founded entity, Akili, Inc. ( AKLI ) , a digital therapeutics company, and Virtual Therapeutics have signed a definitive merger agreement to form a diversified, digital health company.

Under the terms of the deal, Akili ( AKLI ) shareholders will receive $0.4340 per share in cash, which represents a roughly 4% premium to Akili's ( AKLI ) closing stock price on Tuesday, and an approximately 85% premium to its closing price on April 29, the last trading day before Akili ( AKLI ) announced it was evaluating potential strategic alternatives.

The merger, which was approved by Virtual Therapeutics' and Akili's ( AKLI ) board of directors, is expected to close in Q3 at which point Akili ( AKLI ) shares will no longer be listed on any public stock exchange. The combined organization will operate as privately held Virtual Therapeutics, with Akili ( AKLI ) operating as a wholly owned subsidiary.