Maxpro Capital (NASDAQ:JMAC) announced that it has closed its combination with clinical-stage biotech firm Apollomics and the combined company’s shares and warrants are to begin trading today on the Nasdaq under the symbols “APLM” and “APLMW”, respectively.
Apollomics is set to receive $21.35 million in proceeds from a PIPE that Maxpro announced in February and this represents a large majority of the deal’s proceeds as it also saw about 99.2% of shares redeemed in its approval vote.
This vote recorded 8,024,976 shares of common stock approving the business combination and 2,779,121 shares voting against the deal. Redemptions left Maxpro with 79,940 public shares remaining.
Maxpro Capital announced its $899 million deal with Apollomics in September 2022. The Foster City, California-based company is developing a line of drug candidates to treat rare cancers with clinical processes nearing completion in both the US and Chinese treatment markets.
Its APL-101 drug candidate for treating non-small cell lung cancer was granted an orphan drug designation by the FDA late last year giving it an enhanced duration to its exclusivity rights following approval.
ADVISORS
- ARC Group Limited is acting as financial advisor to Maxpro.
- EF Hutton is acting as capital market advisor to Maxpro.
- White & Case LLP is acting as legal counsel to Apollomics.
- Nelson Mullins Riley & Scarborough LLP is acting as legal counsel to Maxpro.
- Marshall & Stevens Transaction Advisory Services LLC is acting as the fairness opinion provider to the board of directors of Maxpro.
ROC Energy Acquisition Corp. (NASDAQ:ROC) announced in an 8-K today that its shareholders have approved its combination with oilfield services company Drilling Tools International (“DTI”) during a special meeting held on June 1. At the meeting, holders of 23,008,929 shares of common stock were present in person or by proxy, representing approximately 85.69% of the voting...
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. Latest SPAC News: SMX to create new subsidiary, trueSilver, and enters into exclusive agreement with Sunshine Minting SMX Extending Metals Business with trueSilver Aiming Both for Fashion Luxury and Bullion Products SMX (NASDAQ:SMX) is pleased to announce...
Rice II (NYSE: RONI) announced in an 8-K today that its shareholders have approved its combination with energy technology company NET Power with relatively low redemptions. In the end, 21,195,224 shares were redeemed in connection vote, removing 61% of Rice II’s trust. This is the second best result among the 32 deals that have come...
Trajectory Alpha (NYSE:TCOA) announced in an 8-K this morning that it has opted to postpone its June 8 extension vote to June 12 at 10 am ET. The SPAC will use this extra time to engage with shareholders at work to reverse redemption decisions. Trajectory Alpha’s team may still be getting acquainted with some major...
Tracking SPACs and all of their various types of “corporate actions” can be challenging. After all, a SPAC can postpone, adjourn, extend, complete, liquidate early, do a tender offer, and in some cases, one SPAC do all of those actions within its lifespan. Naturally, this can be challenging to manage. More importantly, it can very...