Aesther Healthcare Locks in $60M Backstop to Support Approved Ocean Biomedical Deal

Aesther Healthcare Acquisition in an 8-K disclosed it has secured a $60 million backstop with Vellar Opportunity Fund to support its merger with Ocean Biomedical, a next-generation biopharma company. The SPAC’s shareholders approved the combination a week ago.

As announced in August, the deal had an expected combined pro forma enterprise value of approximately $345 million, which assumed no redemptions. In a follow-up regulatory filing, the deal was valued at $240 million.

Ocean Biomedical develops drugs and vaccines for treating cancers, fibrosis, and infectious diseases. Read more.

Total
0
Shares
Related Posts
Read More

JVSPAC Acquisition Files for $50M IPO

The new SPAC intends to target companies "that are at the intersection of the lifestyle sectors and technology," according to the registration. The focus is on companies with an enterprise value of between $100 million and $600 million.