Aesther Healthcare Acquisition Corp. (AEHA) Closes Ocean Biomedical Deal
by Nicholas Alan Clayton on 2023-02-15 at 9:03am

Aesther Healthcare (NASDAQ:AEHA) announced this morning that it has closed its combination with Ocean Biomedical after its shareholders approved the transaction at a special meeting on February 3.

The combined company’s shares and warrants are expected to begin trading today under the symbols “OCEA” and “OCEAW”, respectively.

Last week, Aesther announced it had secured a $60 million backstop agreement with Vellar Opportunity fund, adding to a common stock purchase agreement from White Lion Capital worth up to $75 million. Ocean Biomedical has also received $123.9 million in past and ongoing grants.

In the end, Aesther Healthcare shareholders tendered 98.9%, or 10,389,093, of its 10,500,000 public shares for redemption through votes, but the SPAC noted in an 8-K today that 3,365,515 public shares will remain as a 9.5% stake in the combined company likely thanks to the backstops.

Aesther Healthcare announced its $345 million combination with Ocean Biomedical on August 31, 2022. Providence, Rhode Island-based Ocean Biomedical is developing treatments for malaria and different cancer types.

It is the the second biotech combination to complete in 2023, following Orchestra Biomed’s (NASDAQ:OBIO) tie-up with Health Sciences 2 on January 27.


  • EF Hutton, division of Benchmark Investments, LLC, serves as capital markets advisor to Aesther Healthcare Acquisition Corp.
  • Nelson Mullins Riley & Scarborough LLP serves as legal counsel to Aesther Healthcare Acquisition Corp.
  • Malone Bailey, LLP serves as auditors to Aesther Healthcare Acquisition Corp.
  • Dykema Gossett PLLC serves as legal counsel to Ocean Biomedical, Inc.
  • Deloitte & Touche LLP serves as auditors to Ocean Biomedical, Inc.
Recent Posts
by Nicholas Alan Clayton on 2023-09-25 at 11:33am

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.  Conduit’s $1.2bn Nasdaq listing deals another blow to London A British biopharmaceuticals business has completed a deal to list on Nasdaq, delivering a further blow to the London Stock Exchange which has struggled to persuade fast-growing companies...

by Nicholas Alan Clayton on 2023-09-25 at 7:07am

Mercato Partners (NASDAQ:MPRA) announced in an 8-K this morning that it has added an $11.1 million PIPE at $10 per share to its combination with Brazilian software firm Nuvini. The PIPE investors remain unnamed for now, but this move would cover the combination’s $10 million minimum cash condition. That eliminates some uncertainty as Mercato approaches...

by Kristi Marvin on 2023-09-23 at 11:45am

Terms Tracker for the Week Ending September 22, 2023 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. SPACs finally saw two new S-1 filings this week, the first to file since August 24th.  Hainan Sirius Acquisition Corp. filed first on Thursday and...

by Kristi Marvin on 2023-09-22 at 5:34pm

Latest SPAC Liquidations: LF Capital Acquisition Corp. II LF Capital Acquisition Corp. II (LFAC) to Liquidate on October 3, 2023 LF Capital Acquisition Corp. II (Nasdaq: LFAC), today announced that the directors of the Company have determined to dissolve and liquidate the Company. The redemption of the Public Shares is expected to be completed on...

by Kristi Marvin on 2023-09-22 at 5:32pm

Latest Non-Redemption Agreements: Yotta Acquisition Corp.,Live Oak Crestview Climate Acquisition Corp. Yotta Acquisition Corp. (YOTA) Adds Non-Redemption Agreements Yotta Acquisition Corp. (NASDAQ:YOTA) entered into non-redemption agreements with certain unaffiliated third parties in exchange for such third parties agreeing not to redeem an aggregate of 598,680 shares of the Company’s common stock. In exchange for the foregoing...


Copyright © 2023 SPACInsider, Inc. All Rights Reserved