Aesther Healthcare Acquisition filed a preliminary prospectus outling its proposed merger with Ocean Biomedical. Aesther raised $105 million in a September 2021 IPO and has secured a $40 million backstop on the deal, which has an enterpirse value of $345 million.
Aesther last week said it had secured a three-month extension on the deal, until Dec. 16. The sponsor deposited $1.05 million (10 cents a share) into the SPAC’s trust for the first of two extensions allowed uner Aesther’s governing documents.
If approved, the combined company will work to accelerate the development of Ocean Biomedical’s core assets in oncology, fibrosis, and infectious diseases, all based on new target discoveries enabling first-in-class drug and vaccine candidates. Read more.
