Maxpro Capital Acquisition Corp. (JMAC) Shareholders Approve Apollomics Deal
by Marlena Haddad on 2023-03-21 at 4:52pm

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.

 

Recent Posts
by Kristi Marvin on 2025-06-14 at 10:02am

Terms Tracker for the Week Ending June 13, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. This week brought three new SPAC IPOs with pricings from BEST SPAC I Acquisition Corp., Blue Acquisition Corp. and Blue Water Acquisition Corp. III. All...

by Nicholas Alan Clayton on 2025-06-13 at 12:09pm

Starry Sea (NASDAQ:SSEAU) has filed for a $50 million SPAC with leadership that is making its debut as SPAC officers and a broad search mandate. The new SPAC is offering investors one right to a 1/6 share in each unit and a redemption opportunity coming at the end of its 15-month initial transaction deadline if...

by Nicholas Alan Clayton on 2025-06-13 at 8:24am

At the SPAC of Dawn Israel’s bombing of sites in Iran has brought a new injection of uncertainty to the markets, which appear poised to open in the red. But, this may be a temporary factor after the week has also produced better-than-expected indicators on inflation. One more data point is set to come in...

by Nicholas Alan Clayton on 2025-06-12 at 8:02pm

Best SPAC I Acquisition Corp. (NASDAQ:BSAAU) announced the pricing of its $55 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BSAAU”, Friday, June 13, 2025. The new SPAC plans to combine with a consumer goods company with a total enterprise value between $100 million and $600 million....

by Nicholas Alan Clayton on 2025-06-12 at 7:11pm

Blue Acquisition Corp. (NASDAQ:BACCU) announced the pricing of its $175 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “BACCU”, Friday, June 13, 2025. The new SPAC intends to combine with a target company within a manufacturing company or data center that aligns with green energy initiatives and...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved