Aerami Therapeutics and FoxWayne Enterprises Acquisition today announced a plan to merge.
If approved, upon closing of the transaction, which is currently anticipated in the first quarter of 2022, Aerami Therapeutics Holdings would list on the Nasdaq.
As part of the transaction, FoxWayne will be issuing 25 million shares of its common stock, which represents consideration of approximately $250 million. Current Aerami stockholders will convert 100% of their existing equity interests into common stock of the combined company and will own a majority of the outstanding shares of the combined company post-closing. Assuming no redemptions of FoxWayne shares, the combined company’s cash resources are expected to be comprised of $58 million in cash proceeds currently in trust at FoxWayne along with the existing cash resources of Aerami at closing.
Aerami is a biopharmaceutical company focused on developing inhaled therapies to treat severe respiratory and chronic diseases. Read more.
