OTR Acquisition’s registration statement on its proposed merger with Comera Life Sciences is now effective, the comapnies announced.
Comera is developing a new generation of bio-innovative biologic medicines to improve patient access, safety, and convenience.
The SPAC’s shareholders are scheduled to vote on the deal May 10.
The deal has an implied valuation of $258.4 million and an enterprise value of approximately 151.3 million.
Terms call for Comera to receive approximately $107 million in gross proceeds from the cash held in trust by OTR. All existing Comera investors are rolling 100% of their equity into the pro forma company.
The transaction also includes an earn-out to existing stockholders of Comera, consisting of approximately 3.15 million additional shares, which will be released to Comera stockholders if the share price is at or above $12.50 for 20 out of 30 consecutive trading days within two years post-closing. Read more.
