Arsanis Inc. completed its all-share merger transaction with X4 Pharmaceuticals Inc.
Waltham, Mass.-based Arsanis issued 0.5702 of a common share in exchange for each share of X4 Pharmaceuticals.
The combined company will be named X4 Pharmaceuticals and will be headquartered in Cambridge, Mass. It will start trading on the Nasdaq Capital Market under the symbol XFOR on March 14.
The president and CEO of X4 Pharmaceuticals, Paula Ragan, and Adam Mostafa, X4 Pharmaceuticals' CFO, will lead the combined company. The board of the combined company has six members, with four directors from the former board of X4 Pharmaceuticals and two directors from the previous board of Arsanis.
Michael Wyzga will serve as the new chairman of the board.
Arsanis is also implementing a 1-for-6 reverse stock split following the merger on March 13 and will pay cash for any fractional shares resulting from the reverse split. The combined company will have about 6.7 million shares outstanding after the reverse stock split.