Clinical-stage biopharmaceutical company Apollomics today announced the completion of its business combination with Maxpro Capital Acquisition.
The merger was approved by Maxpro's shareholders March 20, along with a $23.65 million PIPE. The SPAc disclosed after the vote that 10,270,060 shares were redeemed, which essentially wiped out Maxpro's $105 million cash in trust. However, last month the SPAC secured the PIPE subscriptions, which were more than enough to cover the $20 million minimum to close the deal.
Apollomics is developing multiple oncology drug candidates to address difficult-to-treat and treatment-resistant cancers. Read more.
Source: Apollomics and Maxpro Capital Acquisition Complete Merger