SPACInsider Logo
Bison Capital Announces Combination with Xynomic Pharmaceuticals
by Kristi Marvin on 2018-09-13 at 9:38am

Bison Capital Acquisition Corp. (“BCAC”), announced this morning that they have signed a definitive merger agreement with Xynomic Pharmaceuticals, Inc.  Xynomic, is principally engaged in the research, development and commercialization of targeted cancer therapeutics in the U.S., Europe and China and focuses on orally delivered small molecule drugs.

Xynomic has in-licensed a clinical stage drug candidate from Pharmacyclics/AbbVie and a pre-clinical stage drug candidate from Boehringer Ingelheim.  Additionally, Xynomic is collaborating with Janssen R&D, LLC in a clinical trial of a combination therapy.

Bison Capital has not filed an investor presentation or included any financial details on Xynomic, as of yet. We will further evaluate once that’s been provided.

CONSIDERATION

The merger consideration will be payable entirely in common stock of BCAC at a value of $10.15 per share consisting of:

  • Closing consideration of $350 million in BCAC shares, and
  • Earnout consideration of an additional $100 million in BCAC shares, subject to:
    • If Xynomic obtains a worldwide exclusive license to a Phase II-ready oncology drug candidate on or prior to March 12, 2019 (to be identified)

3% of the initial BCAC shares payable to Xynomic shareholders in the merger and 3% of the earnout shares, when payable, will be held in escrow for a period of 18 months following the closing to serve as security for BCAC’s indemnity rights and any excess of the estimated closing merger consideration over the final closing merger consideration amount determined post-closing.

 

 

 

Recent Posts
by Marlena Haddad on 2022-12-01 at 11:25am

  Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Latest SPAC News:  NYSE president says IPO proceeds fall more than 90% while Nasdaq president remains hopeful for 2023, and Giuliani brothers sell pharma stocks as they invest in biotech SPACs NYSE president says IPO proceeds fall...

by Marlena Haddad on 2022-12-01 at 10:02am

InterPrivate II Acquisition Corp. (NYSE:IPVA) disclosed this morning that it has restructured its bonus share agreement in connection to its proposed merger with carsharing marketplace Getaround. The parties previously agreed to reserve and set aside the bonus shares, consisting of 9,333,333 shares, to be allocated to the non-redeeming public stockholders, the designees of EarlyBirdCapital and the...

by Nicholas Alan Clayton on 2022-12-01 at 9:31am

Iris Acquisition Corp. (NASDAQ:IRAA) has entered into a definitive agreement to combine with biotech firm Liminatus at an enterprise value of $334 million. La Palma, California-based Liminatus is a clinical-stage drug developer working on a range of cancer treatments utilizing both preventative vaccines and CAR-T therapies. The combined company is expected to trade on the...

by Marlena Haddad on 2022-12-01 at 9:22am

Lakeshore Acquisition Corp. I (NASDAQ:LAAA) announced this morning that it has entered into a non-redemption agreement and amended its purchaser support agreement with initial shareholders in connection to its proposed merger with medical device company ProSomnus. The SPAC entered into non-redemption agreements with certain institutional investors for an aggregate of 200,339 shares of the purchaser. These investors...

by Nicholas Alan Clayton on 2022-11-30 at 6:01pm

The companies and sponsors of six SPAC deals are set to see their lock-ups expire before the end of the year. This is a relatively small monthly total as the wave of deals from 2020 and 2021 are still hitting this milestone. The list nonetheless includes some major names starting with Forafric (NASDAQ:AFRI), which is...

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