Biotech company Abpro and Atlantic Coastal Acquisition II signed a definitive business combination at an implied equity value of $725 million, according to a regulatory filing. The parties in September signed a term sheet for a potential deal.
The target is a biotechnology company focused on next-generation antibody therapies for severe and life-threatening diseases, particularly cancer.
The SPAC holds approximately $36.5 million in trust.
The deal has an $8.7 million minimum cash requirement. Read more.
