Molecular Templates finds public path via Threshold

Molecular Templates Inc. (Austin, Texas) is reverse-merging with Threshold Pharmaceuticals Inc. (NASDAQ:THLD). The combined entity would keep Molecular Templates' name, and intends to change its NASDAQ ticker to MTEM. Existing Molecular Templates shareholders will own 66% of the combined company, while Threshold shareholders will own the remainder, subject to adjustments based on Threshold's net cash balance.

Longitude Capital is to invest $20 million, contingent on the company raising an additional $20 million in equity, upon the deal's anticipated close by 3Q17...