Healthwell Acquisition I today in an 8-K it and merger partner Starton Therapeutics agreed to lower the minimum cash condition to close their deal to $10 million from the original $15 million.
Any additional equity or debt financings would require mutual agreement, the filing notes.
Starton Therapeutics develops drug delivery systems primarily for use in cancer therapies.
The deal had a post-transaction enterprise value of $339 million when announced in April.
Healthwell raised $250 million in an August 2021 IPO. Read more.
