Healthwell Acquisition I announced it will redeem stock and liquidate, following the termination of its deal with Starton Therapeutics earlier this month.
The redemption price is expected to be approximately $10.50 per share.
Starton Therapeutics terminated the parties’ merger agreement because the conditions to closing were not satisfied or waived by the Nov. 3 outside date, the SPAC said.
The parties in September hacked 33% off the minimum cash consideration.
A vote on the $339 million deal was pushed back twice in October, then postponed.
Healthwell I raised $250 million in an IPO more than two years ago. Redemptions since then have claimed about three-fourths of the trust. Read more.
