Brookline Capital Acquisition in a regulatory filing said shareholders voted in favor of merging with biopharmaceutical company Apexigen.
The 8-K filing did not list redemptions, if any, although there was no minimum cash condition on this deal.
As announced in Maerch, the transaction values Apexigen at $205 million on a net-equity basis and includes a $15 million fully committed PIPE. Separate from the PIPE financing, Lincoln Park Capital Fund, Apexigen and Brookline entered into a committed investment agreement under which the combined company would have the right to direct Lincoln Park Capital to purchase up to $50 million of common stock in the combined company over 24 months.
Apexigen is focused on discovering and developing a new generation of antibody therapeutics for oncology.
Apexigen shares and warrants are expected to start trading Aug. 1 on the Nasdaq under the symbols APGN and APGNW. Read more.
