Chardan Healthcare Acquisition 2 stockholders voted in favor of thre proposed merger with Renovacor, an early‑stage biotechnology company.
The deal was approved by approximately 97.3% of the SPAC’s shares voted, Chardan said in a press release. There was no mention of redemptions, if any.
The deal is expected to close today. Renovacor stock and warrants are expected to begin trading tomorrow on the NYSE under RCOR and RCOR.WS.
The transaction will provide gross proceeds of approximately $95.1 million, including $30 million from the concurrent closing of a PIPE.
Participants in the PIPE included ing RTW Investments, Surveyor Capital, Chardan Healthcare Investments, Acorn Bioventures, Innogest Capital and Longview Ventures. Other investors participating in the business combination include 683 Capital, Affinity Asset Advisors, Altium Capital, Ikarian Capital, Sio Capital Management and South Ocean Capital Management. Read more.
