DiaCarta and HH&L Acquisition today announced a definitive business combination agreement at a pre-money equity valuation of DiaCarta at $460 million on a fully diluted basis.
If approved, the transaction would provide DiaCarta with the approximately $414 million in HH&L’s trust, assuming no redemptions, as well as potential additional financing via PIPE. HH&L Investment, the SPAC’s sponsor, has agreed to contribute or forfeit certain Class B shares to facilitate financing if the total cash available at closing is less than $40 million.
The deal is expected to close in the first quarter of 2023.
DiaCarta is a precision molecular diagnostics company and developer of novel oncology and infectious disease tests. Read more.
