Ares Management to Acquire InMed Pharmaceuticals for $100M

TL;DR

Ares is buying InMed for $100M ($3.10/share) - deal expected Q1 2025.

AI Summary

InMed Pharmaceuticals Inc. announced on December 18, 2024, that it has entered into a definitive agreement to be acquired by a subsidiary of Ares Management LLC. The transaction is valued at approximately $100 million, with InMed shareholders expected to receive $3.10 per share in cash. The deal is anticipated to close in the first quarter of 2025, subject to customary closing conditions.

Why It Matters

This acquisition by a major investment firm like Ares Management suggests a strategic shift for InMed and could lead to significant changes in its operational direction and drug development pipeline.

Risk Assessment

Risk Level: medium — The acquisition is subject to closing conditions, and there's always a risk of the deal falling through or changes in terms before completion.

Key Numbers

• $100M — Acquisition Value (Total amount Ares Management is paying for InMed Pharmaceuticals.)
• $3.10 — Per Share Price (Cash amount each InMed shareholder will receive.)

Key Players & Entities

• InMed Pharmaceuticals Inc. (company) — Company filing the report and being acquired
• Ares Management LLC (company) — Acquiring entity
• $100 million (dollar_amount) — Total value of the acquisition
• $3.10 per share (dollar_amount) — Cash consideration per share for InMed shareholders
• December 18, 2024 (date) — Date of the definitive agreement
• first quarter of 2025 (date) — Anticipated closing period for the acquisition

FAQ

Filing Documents

• ea0225311-8k_inmed.htm (8-K) — 38KB
• ea022531101ex99-1_inmed.htm (EX-99.1) — 16KB
• ex99-1_001.jpg (GRAPHIC) — 5KB
• 0001213900-24-110429.txt ( ) — 237KB
• inm-20241218.xsd (EX-101.SCH) — 3KB
• inm-20241218_lab.xml (EX-101.LAB) — 33KB
• inm-20241218_pre.xml (EX-101.PRE) — 22KB
• ea0225311-8k_inmed_htm.xml (XML) — 4KB

07: Submission of Matters to a Vote of

Item 5.07: Submission of Matters to a Vote of Security Holders. On December 18, 2024, InMed Pharmaceuticals Inc. (the "Corporation") held its 2024 Annual General Meeting of Shareholders (the "Meeting"). At the Meeting, all items of business were voted upon by the shareholders, as indicated below: Proposal No. 1—Election of Directors The Corporation's shareholders approved the election of four director nominees to hold office until the 2025 Annual General Meeting of Shareholders or until their successors are elected or appointed. The election of Ms. Janet Grove was withheld and as such, in accordance with the Corporation's Majority Voting Policy (the "Majority Voting Policy"), Ms. Grove has tendered her resignation to the chair of the Corporation's Board of Directors (the "Board"). The Board's Nominating & Governance Committee will, in accordance with the terms of the Majority Voting Policy, make a determination in due course on whether it will ultimately recommend to the Board to accept Ms. Grove's resignation. A further update will be provided following the completion of the Nominating & Governance Committee's assessment and upon the Board's determination. Results of the vote for the election of the Board at the Meeting are set out as follows: Nominee Votes For* % Votes For Votes Withheld* %Votes Withheld Broker Non-Votes* Eric A. Adams 1,358,271 96.67 % 46,802 3.33 % 3,913,604 Andrew Hull 1,358,517 96.69 % 46,556 3.31 % 3,913,604 Janet Grove 621,901 44.26 % 783,172 55.74 % 3,913,604 Bryan Baldasare 1,358,152 96.66 % 46,921 3.34 % 3,913,604 Nicole Lemerond 1,358,261 96.67 % 46,812 3.33 % 3,913,604 * Share amounts do not reflect the Corporation's previously disclosed 1-for-20 reverse stock split, which was completed in November 2024 (the "November Reverse Stock Split"). Proposal No. 2—Appointment of Independent Registered Public Accounting Firm The Corporation's shareholders voted at the Meeting to approve the ap

01 Regulation FD Disclosure

Item 7.01 Regulation FD Disclosure. On December 18, 2024, the Corporation issued a press release announcing the voting results of the Meeting and other related matters. A copy of the press release is furnished hereto as Exhibit 99.1. The information set forth in this Item 7.01, including Exhibits 99.1, is being furnished and shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information set forth in this Item 7.01, including Exhibit 99.1, shall not be deemed incorporated by reference into any other filing under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such a filing.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit 99.1. Press release, dated December 18, 2024 104 Cover Page Interactive Data File (embedded within the Inline XBRL document and included as Exhibit 101) 1

SIGNATURES

SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: December 19, 2024 INMED PHARMACEUTICALS INC. By: /s/ Eric A. Adams Name: Eric A. Adams Title: Chief Executive Officer 2

View Full Filing

View this 8-K filing on SEC EDGAR