Aesther Healthcare Acquisition announced its shareholders voted in favor of combining with Ocean Biomedical, a next-generation biopharma company.
Neither the press release nor a subsequent 8-K filing disclosed redemptions, if any, although the SPAC’s shares popped to $12.50 on Feb. 3, the day of the shareholder vote. That was well above the cash-out price of $10.20 per share.
As announced in August, the deal had an expected combined pro forma enterprise value of approximately $345 million, which assumed no redemptions. In a follow-up regulatory filing, the deal was valued at $240 million.
Ocean Biomedical develops drugs and vaccines for treating cancers, fibrosis, and infectious diseases. Read more.
Source: Aesther Healthcare Shareholders Approve Ocean Biomedical Deal