BenevolentAI to delist from Euronext and merge into Osaka Holdings

AMSTERDAM: BenevolentAI (Euronext Amsterdam: BAI), a leader in AI-driven drug discovery, announced plans to delist from Euronext Amsterdam via a merger with Osaka Holdings S.à r.l., a private entity. This move, subject to shareholder approval, aims to simplify the company’s structure and reduce administrative overhead.

Following an extensive review, the Board concluded that the costs of maintaining a public listing outweigh its benefits. By delisting, BenevolentAI intends to redirect capital towards innovation and product development to enhance shareholder and patient value.

The Extraordinary General Meeting (EGM) to vote on the delisting and merger is scheduled for March 12, 2025. If approved, the merger with Osaka Holdings will take effect on March 13, 2025. Post-merger, Osaka Holdings will adopt the name BenevolentAI.

Executive Chairman Kenneth Mulvany stated, “The Board unanimously believes that delisting is in the best interests of BenevolentAI and its shareholders. It will allow us to prioritize investments that accelerate our innovation and product development.”

Key points include the conversion of Class B shares into Class A shares, the cancellation of treasury shares, and the issuance of equivalent warrants by Osaka Holdings.