Healthwell Acquisition I in an 8-K filing siad it has singed three non-rdemptions agreements with investors who commit to hold onto 2,297,247 shares through an extension vote. If the measure is approved, the SPAC’s new deadline would be Dec. 5.
In return, the investors would receive 91,890 Class A shares for each month beginning Sept. 5 and continuing on a monthly basis until the SPAC completes a business combination.
Healthwell also disclosed that 22,966,879 Class A shares have been tendered for redemption (qabout 73.5% in total) ahead of the extension vote, leaving 8,283,120 shares outstanding.
Healthwell has a deal in hand with Starton Therapeutics, which develops drug delivery systems primarily for use in cancer therapies.
Announced in April, the deal has a post-transaction enterprise value of $339 million. Read more.
