Artisan Acquisition filed a preliminary proxy outlining its proposed merger with Prenetics Group, a genomic and diagnostic testing company. A shareholder meeting to vote on the deal is set for May 9, according to the proxy filing.
As announced last September, the transaction gives Prenetics an enterprise value of $1.25 billion with a combined equity value of approximately $1.7 billion, which would make the company the first unicorn from Hong Kong to be publicly listed in any market if the deal is ultimately approved.
Earlier this month the SPAC disclosed extensive changes to the merger agreement, including amendments to the share conversion ratio, the PIPE financing and forward-purchase agreements and the business combination. The sponsor’s lockup on selling 50% of its stake, post merger, was cut in half to six months, with the remainder clear to sell after 12 months, post-merger, down from 18 months. Read more.
