SPACInsider Logo
CM Life Sciences III (CMLT) Shareholders Approve EQRx Deal
by Marlena Haddad on 2021-12-17 at 6:23am

CM Life Sciences III (NASDAQ:CMLT) announced this morning that its shareholders approved its combination with biotech firm EQRx in a special meeting yesterday.

The 8-K did not disclose redemption figures but, CM III went into the vote with at least some risk having traded below $10 since August. Following close, the combined company is expected to trade on the Nasdaq under the symbol “EQRX”

CM Life Sciences III initially announced the $3.54 billion combination with EQRx on August 6. Cambridge, Massachusetts-based EQRx is developing a range of drug candidates both generated in-house and licensed from peers with an aim to reducing the overall cost of pharmaceutical rollouts.

All measures on the company’s ballot passed by large margins, but some received dissenting votes amounting to about 19% of participating shares. For full vote tallies, click here.


ADVISORS

  • J.P. Morgan Securities, LLC is acting as the lead financial advisor, with Goldman Sachs & Co. LLC also acting as a financial advisor.
  • PJT Partners LP is also acting as a financial advisor and Goodwin Procter LLP is serving as the legal advisor to EQRx.
  • Jefferies LLC and Cowen and Company, LLC are acting as joint capital markets advisors.
  • White & Case LLP is serving as legal advisor to CM Life Sciences III.
  • Jefferies LLC, Cowen and Company, LLC and J.P. Morgan Securities LLC are acting as joint placement agents.
Recent Posts
by Marlena Haddad on 2022-12-07 at 1:22pm

D and Z Media Acquisition Corp. (NYSE:DNZ) announced this afternoon that its special meeting, originally scheduled for 12:00 p.m. today, was convened and then adjourned, without conducting any business, to 1:30 p.m. on December 19. As of now, DNZ has a completion deadline of January 28, 2023, but is hoping to seek shareholder approval to add an extra...

by Nicholas Alan Clayton on 2022-12-07 at 1:14pm

EDOC Acquisition Corp. (NASDAQ:ADOC) has entered into a definitive agreement to combine with food oil processing company Australian Oilseeds at an enterprise value of $190 million. Australian Oilseeds manufactures food-grade, edible oils through several subsidiaries. Transaction Overview EDOC has an estimated $21.3 million in its current trust after seeing about 77.5% redemptions in extension votes....

by Marlena Haddad on 2022-12-07 at 11:35am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News: Buzzfeed cuts 12% of staff, and ASIG plans to expand through acquisition upon completion of SPAC BuzzFeed cuts 12% of staff citing worsening econ conditions  Digital media company BuzzFeed (NASDAQ:BZFD) is cutting 12%...

by Kristi Marvin on 2022-12-07 at 11:05am

What is your life insurance policy worth while you’re still living? This week, we speak with Abacus Life President and CEO Jay Jackson who may just want to buy yours. Abacus Life has made a business of buying consumer life insurance policies for upfront payments and holding them until maturity. To help bring this particular kind of transaction...

by Nicholas Alan Clayton on 2022-12-07 at 10:33am

Golden Falcon (NYSE:GFX) has entered into a definitive agreement to combine with freight aviation company MNG Airlines at an enterprise value of $676 million, or 5.8x its LTM adjusted EBITDA. Istanbul-based MNG Airlines operates air freight services to four continents with a fleet of nine jets. The combined company is expected to trade on the...

Privacy Policy|Terms Of Use
Copyright © 2022 SPACInsider, Inc. All Rights Reserved