Stem cell research and development company GIO World Health and Apeiron Capital Investment announced that they have entered into a definitive business combination agreement at a pre-money enterprise value of $250 million.
The parties intend that at the closing of the proposed transaction GIO World Health Holdings will list either on the NYSE or Nasdaq.
GIO shareholders holding approximately 98.7% of its outstanding shares have signed on to sell their shares to Apeiron Capital and the parties intend to have the remaining GIO shareholders participate in the transaction prior to closing.
If approved, upon closing GIO World Health shareholders will own approximately 80.83% of the combined public company, which assumes no redemptions by Apeiron Capital’s shareholders.
The transaction is expected to close in the second half of 2023.
Apeiron raised $150 million in a November 2021 IPO.
GIO World Health is a stem cell-based life science company with plans to distribute selective products and services globally, and may also pursue FDA approval for more advanced therapies. GIO World Health is planning to mass produce the Red Blood Cells (RBCs) from stem cells in a bioreactor to solve a blood shortage problem. Read more.
