Aesther Healthcare Acquisition and Ocean Biomedical announced that Aesther has entered into two separate Backstop Agreements for a total of up to $80 million, with the addition of up to $40 million from Meteora Special Opportunity Fund I, Meteora Select Trading Opportunities Master, and Meteora Capital Partnersto support the proposed business combination. Aesther had already executed a separate Backstop Agreement for up to $40 million with Vellar Opportunity Fund SPV LLC-Series 3.
The SPAC last month secured a three-month deadline extension until December. Announced in August, the deal has an expected combined pro forma enterprise value of approximately $345 million, assuming no redemptions. Read more.
