Maxpro Capital Acquisition today in an 8-K disclosed it has added PIPE subscriptions totaling $23.65 million in support of its proposed merger with Apollomics, a late-stage clinical biopharmaceutical company.
The SPAC said $21.35 million was raised in a preferred share PIPE, convertible into 1.25 shares at $10 each with a six-month lockup. The balance of the PIPE was raised at $10 a share with one-fourth of a warrant included in each.
Announced in September, the merger agreement values Apollomics at a pre-money equity value of $899 million.
Apollomics' pipeline of drug candidates includes late-stage clinical assets for the treatment of patients with difficult-to-treat cancers. The company's leading drug candidates address certain subpopulations within lung cancer and leukemia. Read more.
Source: Maxpro Capital Acquisition Adds PIPE in Support of Apollomics Deal