I think the posts here by canplan and amb005 are right on the...

I think the posts here by canplan and amb005 are right on the money.

Ilera Therapeutics is not Ilera Healthcare.

This acquisition by Ilera Therapeutics seems to be controlled by PIPV private equity venture capitalists.

The timing is very suspect, and probably demanded by the venture capitalists so that all the performance shares will be granted.

https://pitchbook.com/profiles/investor/11271-70

http://phoenixipv.com/

Ilera Therapeutics does not even seem to have a web site.
Ilera Healthcare does, but that is a different company (effectively now), and was sold to TerrAscend.

Therefore, it appears that no-one can find out what revenue Ilera Therapeutics has earned, if any. So where is the transparency?

It seems that the waters have been muddied regarding this takeover.

I'm very cautious when I see a USA venture capital company via it's directors effectively in control, rather than a straight pharmaceutical company - very cautious indeed, because the bottom line for venture capital is making money, not helping to heal people. And it appears that the people who have been tossed off the combined board are medical people, like Dr Mal Washer, who I've always admired as someone interested in improving the health of people. Mal should be on the board, and in fact, he should be controlling and running it, not some venture capitalists from the USA.

This is typical venture capital profiteering, if you understand what venture capitalists do.

Venture capitalists buy up a company, then split it into it's constituent parts, and try and sell of each part, for a sum that is greater than the original whole, thus making a healthy profit for themselves. They have no interest in healing people. They follow this business model across all industries.

What the directors at venture capital firm PIPV seem to have done is buy and build the Ilera Group, then split it up by selling off it's parts, including the sale of Ilera Healthcare to TerrAscend, and the the sale of Ilera Therapeutics to Zelda.

Once upon a time these Ilera companies were the same entity, and still should be, but that is not the way venture capital works. The best results for patients would be for these companies to remain unified, but venture capital maximizes it's profits by splitting them.

It's all about money in the pocket of venture capitalists, and nothing else.

Actually, the correct merger for Zelda would have been with Ethicann Pharmaceuticals, not with a venture capital controlled and half sold-off Ilera company. The Zelda board made a bad decision IMHO, and I'm not sure why, though it's likely related to the growth of their own personal bank balances.

Just my opinion though, and I'm often wrong.

Gw