Brookline Capital (NASDAQ:BCAC) announced in an 8-K this morning that its shareholders approved its combination with Apexigen at a special meeting July 27.
The filing did not include redemption figures, but the transaction also did not have a minimum cash condition beyond listing requirements. Brookline brought a $15 million PIPE alongside its trust in the deal and Lincoln Park also agreed to purchase up to $50 million of the combined entity’s stock in the two years following the transaction’s close.
Brookline traded below its estimated pro rata trust value of $10.22 throughout its July 25 redemption deadline, but has since soared to a close Wednesday at $10.75. Following the deal’s close, Apexigen is expected to trade on the Nasdaq under the symbol “APGN”.
The parties initially announced the $278 million combination on March 18. San Carlos, California-based Apexigen is developing a range of immunological cancer treatments with four currently in Phase II trials.
It announced the results of its Phase II trials to treat pancreatic cancer with its sotigalimab drug candidate in June.
ADVISORS
- Brookline Capital Markets is acting as capital markets advisor to Brookline Capital Acquisition Corp.
- Wedbush PacGrow is acting as exclusive strategic financial advisor to Apexigen.
- DLA Piper LLP (US) is serving as legal advisor to Brookline Capital Acquisition Corp.
- Wilson Sonsini Goodrich & Rosati, P.C. is serving as legal advisor to Apexigen.


Globa Terra Acquisition Corporation (NASDAQ:GTERU) announced the pricing of its $152 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “GTERU”, Wednesday, July 9, 2025. The new SPAC plans to mount a search for a target in the agriculture, agtech or biotech sectors with an emphasis on water...
M3-Brigade V (NASDAQ:MBAV) has entered into a definitive agreement to combine with crypto treasury firm ReserveOne, assembling about $1 billion in equity funding. ReserveOne is setting up a diversified Bitcoin and digital asset treasury with a portion of its investments going towards blockchain infrastructure and venture raises. The combined company is expected to trade on...
At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...