Sichenzia Ross Ference LLP Represents Murphy Canyon Acquisition Corp. in Definitive Merger Agreement with Conduit Pharmaceuticals Limited

Press Release – New York, NY November 9, 2022 – Sichenzia Ross Ference LLP announced today that it represented Murphy Canyon Acquisition Corp. (Nasdaq: MURF), a publicly traded special purpose acquisition company (SPAC) in a definitive merger agreement with Conduit Pharmaceuticals Limited (“Conduit”). The combined company is anticipated to have an implied initial enterprise value of approximately $700.49 million, and the transaction is expected to deliver cash proceeds of around $149.36 million to Conduit (assuming no redemptions). The combined company’s common stock is anticipated to be listed on Nasdaq under the ticker symbol “CDT”, which is expected to occur in the first quarter of 2023.

The Sichenzia Ross Ference LLP team was led by partners Darrin Ocasio, Arthur Marcus, Avital Perlman, associate Michael Blane, and law clerk Anastasia Hayes.