Summit Healthcare Acquisition said its registration statement on a proposed merger with YS Biopharma has been declared effecgtive by the sec. The SPAC called a March 1 meeting for shareholders to vote on the $849 million deal.
As announced in September, the deal is expected to provide up to $230 million in gross proceeds to YS Biopharma, including $30 million from forward purchase investors and up to approximately $200 million in Summit's trust account.
If approved, YS Biopharma shares and warrants are expected to list on the nasdaq under the ticker symbols YS and YSBPW.
YS Biopharma's YSJATM rabies vaccine is one of the leading products in the human-use rabies vaccine market in china. Read more.
Source: Summit Healthcare Schedules Vote on YS Biopharma Merger