Murphy Canyon (NASDAQ:MURF) announced this morning that it has closed its combination with Conduit Pharmaceuticals and its shares and warrants are expected to begin trading on the Nasdaq under the symbols “CDT” and “CDTTW” on September 25.
The company also closed a purchase of $20 million in Murphy Canyon units at close, which is to form substantially all of Conduit’s net proceeds after the SPAC saw 99.5% redemptions with 58,066 shares remaining post-vote.
That low share count led Murphy Canyon stock to spike to $25 at one point this week, but it has already settled back down to about $11.70 near midday.
Murphy Canyon inked the deal with Conduit in November 2022. London-based Conduit is working to develop a range of treatments licensed from AstraZeneca (NASDAQ:AZN) with the aim of exiting these assets following the completion of Phase II trials.
Chavant Capital Acquisition Corp. (NASDAQ:CLAY) announced in an 8-K filing this afternoon that it has amended its business combination agreement with Mobix Labs. The amendment involves specific alterations to the exchange ratio, now set at a one-to-one ratio to determine how many shares of Class A Common Stock and Class B Common Stock Mobix Labs’...
ShoulderUp Technology (NYSE:SUAC) announced this afternoon that it has signed a non-binding letter of intent (LOI) to combine with an undisclosed private IT company and has terminated its previous LOI with Airspace Experience Technologies. Terms of the new transaction have not yet been announced, but the parties expect to finalize a definitive agreement by the...
The pace of lock-up expirations is picking up in the final month of the year after a relatively quiet November. Seven de-SPACs and sponsors will be freed to run downstairs and see what the public markets have brought them, but not all are likely to find treats in their wooden clogs. The fastest kid into...
Innovative International (NASDAQ:IOAC) announced in an 8-K that it has removed its earnout shares in connection to its combination with car sharing program Zoomcar. On November 30, IOAC and Zoomcar agreed to a letter agreement regarding the release of 20 million earnout shares, which were originally intended to be placed in an escrow account upon...
Nukkleus (OTC:NUKK) announced “the completion of its strategic merger” with Brilliant (NASDAQ:BRLI) this morning, which has caused some ripples in the market, but it does not appear to represent an actual closing of the business combination. The two sides may have dotted the Is and crossed the Ts on their own internal documents, but Brilliant...