Haymaker Acquisition III stockholders voted in favor of merging with Biote, a medical practice-building business within the hormone optimization space.
The closing is expected tomorrow. Common stock and warrants of Biote would then begin trading on the Nasdaq under the symbols BTMD and BTMDW starting May 27.
Neither the news release announcing the vote nor a subsequent 8-K filing disclosed redemptions, if any.
As announced in December, terms of the deal call for the combined company to have approximately $195 million in cash on its balance sheet at closing, after the payment of transaction expenses and distributions to Biote members. Funding consists of $317.5 million of cash held in Haymaker’s trust (assuming zero redemptions), the proceeds of a debt financing, and the expected balance sheet cash at closing. Read more.
