ANEW MEDICAL Merging in $94M Deal with Redwoods Acquisition

ANEW MEDICAL and Redwoods Acquisition today announced a definitive merger agreement at a pro forma enterprise value of $94 million.

The target is an early-stage biotechnology company focused on developing disruptive new therapies to treat neurodegenerative diseases. Omaha, NE-based ANEW currently lists on the OTC Markets under the symbol LEAS.

Existing ANEW stockholders are expected to rollover 100% of their equity into the combined company.  ANEW stockholders will also be eligible to receive five million additional earn-out shares based on future stock performance.

The transaction is expected to provide approximately $54 million of cash proceeds, assuming no redemptions by Redwoods stockholders.

If approved, after closing ANEW MEDICAL expects to list on the Nasdaq.

Redwoods Acquisition is led by Jiande Chen, former CEO of IMAX China. Read more.

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