AEON Biopharma and Priveterra Acquisition announced a definitive business combination agreement. The transaction values the combined company at a post-money equity value of $475.5 million and is expected to provide $276M in gross cash proceeds, including earnouts.
If approved, upon closing AEON Biopharma, Inc. and is expected to list on the Nasdaq under the ticker symbol AEON.
Priveterra will acquire AEON for $165 million in stock. Priveterra’s sponsor has also allocated 50% of its common stock to an earnout based on achievement of certain clinical milestones.
AEON is a private clinical-stage biopharmaceutical company focused on the development of its proprietary botulinum toxin complex ABP-450 (prabotulinumtoxinA) injection for therapeutic indications.
Latham & Watkins served as legal advisors to AEON. Cohen & Company Capital Markets, a division of J.V.B. Financial Group, served as financial advisor to Priveterra. Canaccord Genuity was lead capital markets advisor to Priveterra and H.C. WAINWRIGHT & CO. also acted as a co-capital markets advisor to Priveterra. Davis Polk & Wardwell served as legal advisor to Priveterra. Read more.
