ANEW MEDICAL Merging in $94M Deal with Redwoods Acquisition

ANEW MEDICAL and Redwoods Acquisition today announced a definitive merger agreement at a pro forma enterprise value of $94 million.

The target is an early-stage biotechnology company focused on developing disruptive new therapies to treat neurodegenerative diseases. Omaha, NE-based ANEW currently lists on the OTC Markets under the symbol LEAS.

Existing ANEW stockholders are expected to rollover 100% of their equity into the combined company.  ANEW stockholders will also be eligible to receive five million additional earn-out shares based on future stock performance.

The transaction is expected to provide approximately $54 million of cash proceeds, assuming no redemptions by Redwoods stockholders.

If approved, after closing ANEW MEDICAL expects to list on the .

Redwoods Acquisition is led by Jiande Chen, former CEO of IMAX . Read more.

Source: ANEW MEDICAL Merging in M Deal with Redwoods Acquisition