Atlantic Coastal Acquisition II today filed a registration statement and investor presentation on its proposed deal with Abpro, The deal was announced in September at an implied equity value of $725 million. The transaction is expected to close in Q2 of 2024.
The target is a biotechnology company focused on next-generation antibody therapies for severe and life-threatening diseases.
Terms call for Abpro investors to own 72.5 million shares in the combined company. In addition, 14.5 million shares would be subject to an earnout agreement.
The SPAC raised $250 million in a January 2022 IPO.
Brookline Capital Markets, a Division of Arcadia Securities, acted as a financial advisor to Abpro. Read more.
