Isleworth Healthcare Acquisition in an 8-K filing included an investor presentation promoting its proposed merger with Cytovia Holdings, a biopharmaceutical company. The deal has a a pro forma equity value of $602 million.
Florida-based Cytovia develops cell therapies and immunotherapies designed to empower natural killer cells to fight cancer through stem cell engineering and multispecific antibodies.
If the deal is approved, Cytovia Therapeutics would trade on the Nasdaq.
As announced in April, terms call for the merged company to receive up to $227 million in gross proceeds from a combination of approximately $207 million in cash held in Isleworth’s trust account (assuming no redemptions) and a $20 million PIPE funded by new investors, and without considering the proceeds of any additional prospective financing. Read more.
