Priveterra Acquisition in an 8-K filed this morning said today's rescheduled shareholder meeting to vote on the proposed merger with Aeon Biopharma will be adjouned until June 13 at noon Eastern time “in order to allow additional time for the company to engage with its stockholders.”
The vote, originally scheduled for Tuesday, had been postponed until today.
Stockholders who wish to withdraw their redemption request may do so prior to the rescheduled meeting.
Priveterra in April lowered the minimum cash closing condidition to $40 million from the initial $45 million. The expense cap for Priveterra was increased by $300,000 to $10.3 million.
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. The figures assume zero redemptions by the SPAC's shareholders.
AEON is a private clinical-stage biopharmaceutical company focused on the development of its proprietary botulinum toxin complex ABP-450 (prabotulinumtoxinA) injection for therapeutic indications. Read more.
Source: Priveterra Again Delays Merger Vote on Aeon Biopharma