ZyVersa Therapeutics and Larkspur Health Acquisition today announced $10 million in additional funding to support their proposed merger. Of the total, $8.5 million will come from PIPE commitments. The SPAC had $1.5 million in PIPE commitments at deal announcement in July.
Additionally, ZyVersa closed a bridge finance round of approximately $1.5 million from an offering of its Series A Convertible Preferred Stock, which will convert into ZyVersa common stock at deal closing.
ZyVersa is a clinical stage specialty biopharmaceutical company developing product candidates that address unmet medical needs in the areas of renal and inflammatory diseases.
The combined company would have an enterprise value of $108.9 million. Read more.
