Blue Water Acquisition today scheduled an Aug. 12 meeting for stockholders to vote on its proposed merger with Clarus Therapeutics.
Terms call for Clarus to receive $379 million on a fully diluted basis, assuming no redemptions by Blue Water stockholders. Current Clarus stakeholders will invest an additional $25 million in the therapeutics company.
Blue Water raised $57.5 million in a December IPO.
If approved, the new company will list on the Nasdaq under CRXT. Blue Water’s public warrants are expected to trade under CRXTW. Read more.
