AtaiBeckley Inc. has completed a merger with Eli Lilly and Company, resulting in the company becoming a wholly owned subsidiary of the parent entity. The transaction, originally agreed upon on July 15, 2026, was finalized on September 11, 2026. At the effective time of the merger, each share of AtaiBeckley’s common stock was converted into the right to receive $6.75 in cash per share, plus one contingent value right (CVR) per share. The CVRs represent the right to receive up to $2.50 in cash per share upon the achievement of specific clinical and regulatory milestones.
The CVR payments are structured as follows: up to $1.00 per share upon the initiation of a Phase 3 clinical trial of VLS-01 prior to the fourth anniversary of the closing date; up to $0.50 per share upon U.S. regulatory approval and DEA rescheduling of BPL-003 prior to the fifth anniversary of the closing date; and up to $1.00 per share upon U.S. regulatory approval and DEA rescheduling of VLS-01 prior to the seventh anniversary of the closing date.
In connection with the merger, the company has notified The Nasdaq Stock Market LLC of the transaction and requested the suspension and delisting of its common stock. The company intends to file a Form 25 with the SEC to deregister the stock and subsequently file a Form 15 to terminate its reporting obligations under the Securities Exchange Act.
Additionally, the company’s board of directors and executive officers resigned at the effective time. Christopher Anderson and Jonathan R. Haug, who were directors of the acquiring entity, were appointed as directors of AtaiBeckley. Jonathan R. Haug was appointed President, and Steffanie Lim-Ho was appointed Treasurer. The company also approved a retention bonus of $194,000 for Gerd Kochendoerfer, subject to his continued employment through the effective time.
