08:32 AM EDT, 09/30/2024 (MT Newswires) -- Tharimmune ( THAR ) shares were up more than 7% in premarket activity Monday after the company and Intract Pharma said they have entered into a non-binding merger agreement.

Under the terms of a letter of intent, Tharimmune ( THAR ) will acquire all the outstanding shares of privately-held Intract in exchange for newly issued restricted stock. Following the merer, Intract shareholders will own 49% of the combined entity, which will be named Tharimmune ( THAR ), trading on the Nasdaq under the ticker symbol, "THAR."

The proposed merger is expected to close in Q1.

Price: 2.6500, Change: +0.18, Percent Change: +7.29