InMed Pharmaceuticals Inc. filed a Form 425 communication on October 26, 2026, announcing the CVR Distribution Record Date of November 5, 2026, set in connection with its proposed merger with Mentari Therapeutics, Inc.

Key Highlights

  • CVR Distribution Record Date: InMed fixed the close of business on November 5, 2026, as the record date for distributing contingent value rights (CVRs) to InMed shareholders of record.
  • One CVR per common share: According to the filing, InMed would issue one CVR for each outstanding common share held as of the CVR Distribution Record Date.
  • Shareholder meeting: The annual general and special meeting of the Company is scheduled for November 4, 2026, at which shareholders will vote on Proposal No. 2, the "Return of Capital Proposal."
  • CVR distribution is conditional: The distribution of CVRs is subject to and conditional upon approval of the Return of Capital Proposal at the November 4, 2026 meeting.
  • No CVR for option surrenders: The filing states that common shares issued upon the surrender of outstanding in-the-money stock options of InMed "will not entail any corresponding CVR entitlement."
  • Rights agent named: Odyssey Transfer and Trust Company is acting as the rights agent for the CVRs, according to the filing.
  • Merger agreement date: The underlying Agreement and Plan of Merger and Reorganization is dated May 19, 2026, as amended.

InMed Discloses CVR Record Date and Key Terms Ahead of Mentari Merger Vote

InMed Pharmaceuticals Inc. (NASDAQ:INM) disclosed that it has fixed the close of business on November 5, 2026, as the CVR Distribution Record Date for the issuance of contingent value rights to its shareholders, according to the Form 425 filing dated October 26, 2026. The CVRs are being distributed in connection with InMed's proposed merger with Mentari Therapeutics, Inc., under a merger agreement originally dated May 19, 2026.

The filing describes the proposed transaction as a two-step merger. In the first step, Indigo Merger Sub Corp., a wholly owned subsidiary of InMed, would merge with and into Mentari, leaving Mentari as a wholly owned subsidiary of InMed. Immediately following, Mentari would merge with and into Indigo Merger Sub II, LLC, a second wholly owned InMed subsidiary, which would be the surviving entity. The filing notes that these steps are "part of the same overall transaction."

Each CVR, according to the filing, represents "the right to receive contingent payments upon the occurrence of certain events set forth in, and subject to and in accordance with the terms of, the CVR Agreement" to be entered into on or prior to the closing date of the merger. The company disclosed that investors who purchase common shares on November 5 "are not expected to be holders of record as of the CVR Distribution Record Date." The filing also notes that shareholders holding shares in book-entry form or in brokerage accounts need not take any action in connection with the CVR issuance. The company's registration statement on Form S-4, which includes a proxy statement and prospectus, was declared effective by the SEC on October 1, 2026.

What Was Disclosed

InMed disclosed the November 5, 2026 CVR Distribution Record Date, the conditionality of CVR distribution on shareholder approval of the Return of Capital Proposal at the November 4, 2026 meeting, and key CVR issuance terms, including the exclusion of shares issued upon option surrenders.