Maxpro Capital (NASDAQ:JMAC) announced this afternoon that its shareholders have approved its combination with biopharmaceutical firm Apollomics.
An aggregate of 10,804,097 shares of Maxpro’s common stock were present at yesterday’s special meeting. Holders of 8,024,976 shares of common stock approved the business combination, but the deal faced a bit of pushback with 2,779,121 shares voting against it.
In connection with the transaction, holders of 10,270,060 shares, or 99.228% of Maxpro’s trust, exercised their right to redeem their shares. Following the redemptions, the SPAC is left with 79,940 shares remaining.
The parties have not yet disclosed when the deal will be completed, but the combined company is expected to trade on the Nasdaq under the symbol “APLM” once it closes.
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.
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.
Hammerhead Energy Inc. (NASDAQ: HHRS), which combined with Decarbonization Plus IV, has announced the results of its substantial issuer bid that expired at 5:00 p.m. ET on June 2. Under the bid, HEI offered to purchase for cancellation up to 20 million of its warrants, representing approximately 70% of its total number of issued and outstanding warrants, to purchase...
Terms Tracker for the Week Ending June 2, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. As is typical of slow holiday weeks, this past week for SPACs was no exception. To wit, there were zero new S-1s filed, zero amendments...
Trajectory Alpha Acquisition Corp. (NYSE:TCOA) announced this afternoon that it has entered into a purchase and contribution agreement with its sponsor and J. Streicher Holdings, LLC. As a result, the SPAC will undergo a change in management. As part of the agreement, J. Streicher will pay $250,000 to Trajectory Alpha and $1.00 to the sponsor. In return,...
Latest SPAC Liquidations: Sound Point I, Bullpen Parlay, and Zimmer Energy Transition Sound Point Acquisition Corp I (SPCM) to Liquidate on June 4 Sound Point Acquisition Corp I, Ltd (NASDAQ: SPCM) announced today that it intends to liquidate and dissolve, effective as of June 4, 2023, and will redeem all of the outstanding Class A...
Latest Non-Redemption Agreements: GSR II Meteora Acquisition Corp. GSR II Meteora Acquisition Corporation (GSRM) Adds Non-Redemption Agreement On May 31, 2023, GSR II Meteora Acquisition Corp., (NASDAQ:GSRM), entered into certain non-redemption agreements with certain third parties in connection with the special meeting of stockholders. Pursuant to such Non-Redemption Agreements, each Non-Redeeming Stockholder agreed that it will...