Apollomics, a late-stage clinical biopharmaceutical company, and Maxpro Capital Acquisition today announced a merger agreement that values Apollomics at a pre-money equity value of $899 million.
If approved, Apollomics would list on the Nasdaq under the ticker symbol APLM.
Assuming no redemptions by Maxpro’s stockholders, Apollomics would receive up to $105 million of cash from the SPAC’s trust. At closing and again, assuming no redemptions, approximately 10% of the outstanding shares of the combined company are expected to be held by public investors, with existing Apollomics shareholders owning approximately 87%.
The deal has a $20 million minimum cash condition.
The transaction is expected to close during the first quarter of 2023.
Apollomics’ pipeline of drug candidates includes late-stage clinical assets for the treatment of patients with difficult-to-treat cancers. The company’s leading drug candidates address certain subpopulations within lung cancer and leukemia. Read more.
