Reunion Neuroscience Inc. (REUN) has now completed the final step in its corporate reorganization plan, dividing the organization into two distinct sister companies.
On Wednesday, Reunion (formerly known as Field Trip Health Ltd.) announced that its common shares would begin trading on the Toronto Stock Exchange (TSX) with the ticker symbol “REUN.”
Field Trip announced that it would be changing its name to Reunion Neuroscience at the end of July and has since spun out the company’s former clinic and technology division or subsidiary — Field Trip Health & Wellness Ltd. (FTHW) into a separate stand-alone public company also traded on the TSX.
However, Reunion says it will continue to hold a 21.84 per cent interest in FTHW even though Reunion and Field Trip will now be functioning as two separate entities.
For all our investors, friends and supporters of Field Trip, tomorrow is a big day!
Field Trip Health is multiplying, as we become Field Trip Health & Wellness and Reunion Neuroscience!
Double the pleasure, double the fun! pic.twitter.com/NfhNJoynnO
— Ronan Levy (@RonanDLevy) August 17, 2022
“We are confident that Reunion and Field Trip Health & Wellness are well positioned to operate successfully as separate companies, executing on their distinct visions and strategic priorities,” said Joseph del Moral, Co-Founder and CEO at Reunion on August 4.
“The future of both companies is exciting, with Reunion currently progressing the Phase 1 Clinical Study of FT-104, and Field Trip Health & Wellness continuing to deliver innovative psychedelic-assisted treatments,” he added.
“We believe the separation is in the best interest of shareholders and both companies, as it will allow each company to focus management efforts and capital to better execute on their own business priorities.”