FX.co ★ ReShape And Vyome To Merge In All-stock Deal; ReShape To Substantially All Of Its Assets To Biorad

ReShape Lifesciences (RSLS) and Vyome Therapeutics, Inc., have announced a definitive merger agreement, combining their operations in an all-stock transaction. This merger is aimed at advancing the development of their immuno-inflammatory assets and exploring additional opportunities between the innovation hubs in India and the U.S.

Per the merger terms, unanimously approved by the boards of both companies, current ReShape stockholders will own about 11.1% of the merged entity post-merger, subject to changes based on ReShape's net cash at closing versus a target of $5 million.

Upon closing, ReShape will be renamed Vyome Holdings, Inc., and is expected to trade on the Nasdaq under the ticker symbol "HIND," signifying the U.S.-India collaboration.

The combined company's board will include six directors from Vyome and one from ReShape, with Vyome's executive officers leading the new organization.

In conjunction with the merger, ReShape has agreed to an asset purchase agreement to sell nearly all of its assets to Biorad Medisys, Pvt. Ltd., for $5.16 million in cash. This sale includes ReShape's Lap-Band System, Obalon Gastric Balloon System, and the Diabetes Bloc-Stim Neuromodulation (DBSN) System, along with the assumption of most of ReShape's liabilities by Biorad.