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.
Source: Summit Healthcare Schedules Vote on YS Biopharma Merger