Captura Biopharma and OceanTech Acquisitions I today announced a definitive business combination agreement. The merged company would have a post-transaction equity market capitalization of $224.3 million.
The deal would deliver $120 million to Captura, minus any debt on the target’s books and assuming no SPAC share redemptions, according to an 8-K filed subsequent to the announcement. Captura shareholders also stand to gain 2 million payout shares if the FDA approves the company’s radionuclide decorporation agent under development.
If approved by OceanTech shareholders, upon closing Little Rock, AR-based Captura would list on the Nasdaq.
Captura is developing and commercializing oral chelators to treat internal radiation contamination and heavy metal poisoning. A chelate is a bonding of ions and molecules to metal ions.
The deal is expected to close in the fourth quarter. Read more.
