InMed Closes Mentari Merger After $490M Private Financing
Vancouver – November 07, 2026 -- InMed Pharmaceuticals has completed its merger with privately held Mentari Therapeutics, which closed private financings of approximately $490 million in gross proceeds immediately before the deal. The combined company operates as Mentari Therapeutics, Inc.
Shares begin trading as MTRI on Nasdaq Capital Market on November 9
The combined company's shares are expected to start trading at market open on Monday, November 9, 2026, under the ticker "MTRI" and the new CUSIP number 587157108. The stock previously traded on Nasdaq as INM.
$490 million financing includes $50.0 million in converted notes
The proceeds include the conversion of $50.0 million of previously issued convertible notes, plus accrued interest. Immediately before closing, the company also redomesticated from British Columbia, Canada, to the State of Nevada.