(Boursier.com) — Cellectis announces today that Cibus Global LLC, a limited liability company incorporated in Delaware, and Calyxt, Inc., have announced that Calyxt and Calypso Merger Subsidiary, LLC, a limited liability company incorporated in Delaware, USA and a 100 % of Calyxt, have entered into an agreement and plan of merger with Cibus and certain other parties named therein, pursuant to which, subject to its terms and conditions, Calyxt and Cibus will merge in a fee-based transaction exclusively in shares. The transaction combines two companies in the field of agriculture based on genome editing, with facilities for the development of characteristic plant traits and next-generation plant breeding.
Cellectis currently holds a 49.1% equity stake in Calyxt. Following the completion of the merger, Cellectis expects to hold 2.5% of the capital of the company resulting from the merger. As part of the merger agreement, Cellectis has entered into a voting agreement with Cibus to vote in favor of and approve all transactions contemplated by the merger agreement, subject to the terms and conditions of the latter. Closing of the transaction is currently expected in the second quarter of 2023.
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