Priveterra Acquisition in an 8-K filing said it lowered the minimum cash closing condidition on its merger deal with AEON Biopharma to $40 million from the initial $45 million.
The expense cap for Priveterra was increased by $300,000 to $10.3 million.
Amended terms also allow either party to terminate the deal if it does not close by July 31.
Announced in December, the transaction values the combined company at a post-money equity value of $475.5 million and is expected to provide $276M in gross cash proceeds, including earnouts. Read more.