Blue Water Acquisition Postpones Shareholder Vote on Clarus Therapeutics Merger

Clarus Therapeutics

Bluye Water Acquisition pushed back its stockholder meeting date from today until Aug. 27 when investors are now scheduled to vote on its proposed merger with Clarus Therapeutics. The SPAC said it will continue to solicit proxies from stockholders. The S-4 registration statement was declared effective yesterday by the SEC.

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.

Related Posts