Brookline Capital Acquisition in a regulatory filing said its sponsor deposited $167,032.54 into the SPAC’s trust as consideration for a deadline extension on the proposed merger with Apexigen, a clinical-stage biopharmaceutical company.
Brookline shareholders approved the extension to Nov. 2 last week, although redemptions ahead of the shareholder vote erased 12% of Brookline’s trust.
The SPAC also said it issued an additional convertible unsecured promissory note to its sponsor for $424,770 that would be used for working capital. The note is convertible into units at $10 each. Read more.
