Oceantech Acquisitions I filed a preliminary proxy in which it proposes a merger deadline extension from Dec. 2 until June 2, 2023. The SPAC it needs more time to finalize its $224 million deal with Captura Biopharma.
Announced in August, the deal would deliver $120 million to Captura, minus any debt on the target’s books and assuming no SPAC share redemptions. Captura shareholders also stand to gain 2 million payout shares if the FDA approves the company’s radionuclide decorporation agent under development.
If approved, 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. Read more.
