# Skye Bioscience, Inc. (SKYE) — liquidation/dissolution [pending]
Source: sec.gov · situation sit_1f4c128d4f942e95162f · public 4377797673850340206 · retrieved 2026-08-19T12:52:11.684Z

## Overview
Skye Bioscience, Inc. is a Nevada-incorporated pharmaceutical company that develops cannabis-derived therapeutics; it is acquiring Redx Pharma Limited, a UK-based biopharmaceutical company developing novel small-molecule therapeutics including RXC008.

Skye Bioscience, Inc. entered into a transaction agreement on August 14, 2026 to acquire Redx Pharma Limited, a private UK-incorporated company, via a scheme of arrangement under the UK Companies Act 2006. Upon the effective time of the scheme, Redx shareholders will receive shares of Skye common stock (or non-voting common stock if elected) at an exchange ratio to be determined, plus contingent value rights. Redx is concurrently raising $36.0 million in Series A financing, and Skye is raising $67.9 million (potentially up to $72.9 million) in concurrent financing from accredited investors. On a pro forma basis, pre-transaction Redx equityholders are expected to own approximately 46.17% of the combined company, pre-transaction Skye equityholders approximately 5.38%, and concurrent and Series A financing investors approximately 48.45%, assuming a $14.5 million valuation for Skye and a $125.0 million valuation for Redx. The transaction is subject to shareholder approvals and court sanction, with an expected closing by August 14, 2027.

## Terms
- Counterparty: Redx Pharma Limited · Consideration: mixed · Stake: 46.17%

## Key dates
- Announced 2026-08-14 · Expected close 2027-08-14

## Timeline
- 2026-08-14 · 8-K (0001628280-26-056966): 8-K - Skye Bioscience, Inc. — *Skye Bioscience, Inc. is a Nevada-incorporated pharmaceutical company that develops cannabis-derived therapeutics; it is acquiring Redx Pharma Limited, a UK-based biopharmaceutical company developing novel small-molecule therapeutics including RXC008.* Skye Bioscience, Inc. entered into a transaction agreement on August 14, 2026 to acquire Redx Pharma Limited, a private UK-incorporated company, via a scheme of arrangement under the UK Companies Act 2006. Upon the effective time of the scheme, Redx shareholders will receive shares of Skye common stock (or non-voting common stock if elected) at an exchange ratio to be determined, plus contingent value rights. Redx is concurrently raising $36.0 million in Series A financing, and Skye is raising $67.9 million (potentially up to $72.9 million) in concurrent financing from accredited investors. On a pro forma basis, pre-transaction Redx equityholders are expected to own approximately 46.17% of the combined company, pre-transaction Skye equityholders approximately 5.38%, and concurrent and Series A financing investors approximately 48.45%, assuming a $14.5 million valuation for Skye and a $125.0 million valuation for Redx. The transaction is subject to shareholder approvals and court sanction, with an expected closing by August 14, 2027.
  https://www.sec.gov/Archives/edgar/data/1516551/0001628280-26-056966.txt

## Citations
- 0001628280-26-056966 — https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&type=&dateb=&owner=include&count=40&search_text=000162828026056966