Longevity Biomedical and Denali Capital Acquisition today announced a definitive merger agreement at a pro forma equity valuation of approximately $236.2 million, which assumes zero redemptions.
Longevity is focused on advancing new technologies across therapeutics, health monitoring and digital health solutions to increase human health span.
Estimated cash proceeds consist of Denali’s $85.4 million in trust. The combined company may also seek a $30 million pre-transaction PIPE.
If approved, upon closing Longevity is expected to list on the Nasdaq under the ticker symbol LBIO.
Additionally Longevity has entered into agreements with Cerevast Medical, Aegeria Soft Tissue and Novokera, for Longevity to acquire the three targets prior to the SPAC merger. Each would then be a wholly-owned, indirect subsidiaries of the combined company.
Denali is led by Lei Huang (US Tiger Securities). Read more.
