APRINOIA Therapeutics Sets Terms for $24M IPO After Ross II Deal Collapses

Hong Kong-based APRINOIA Therapeutics filed a registration statement for an IPO of 2 million shares to be priced between $10 and $14 each, which would raise $24 million at the midpoint of the range. The filing follows the termination of a $320 million SPAC deal with Ross Acquisition II in August of last year.

The company intends  to list on the under the symbol APRL. US Tiger Securities is serving as lead bookrunner. Aprinoia first filed for the IPO in January.

Shortly after the deal collapsed, Ross Acquisition II shareholders approved a deadline extension to March 16. Redemptions on that extension vote left the SPAC with about $54.2 million in trust.

The new completion deadline will mark the three-year anniversary of the SPAC's IPO.

The SPAC was founded by Wilbur Ross, former commerce secretary during the Trump Administration. Read more.

Source: APRINOIA Therapeutics Sets Terms for M IPO After Ross II Deal Collapses