Isleworth Healthcare Acquisition in an 8-K filing amended its merger agreement with Cytovia Holdings, replacing the $50 million minimum cash amount with a new terms consisting of $5 million, plus Isleworth’s transaction expenses and the amount of cash reasonably required for the surviving entity to conduct business as a publicly traded company for a year after the merger closes, if approved.
When announced in April, terms called for the merged company to receive up to $227 million in gross proceeds. The deal was valued at $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. Read more.
