Redwoods Acquisition in an 8-K said it signed a PIPE agreement with Meteora Capital Partners and affiliates, who’ve agreed to purchase up to 1 million shares.
Redwood shareholders approved a merger with ANEW Medical in April. Terms at deal announcement originally called for ANEW to receive up to $60 million in stock, although that was before redemptions of 53% in a December extension vote and another 1.7 million shares redeemed ahead of the merger vote.
The target is an early-stage biotechnology company focused on developing disruptive new therapies to treat neurodegenerative diseases. Omaha, NE-based ANEW currently lists on the OTC Markets under the symbol LEAS.
Terms at deal announcement originally called for ANEW to receive up to $60 million in stock, although that was before redemptions of 53% in a December extension vote and another 1.7 million shares redeemed ahead of the merger vote. The parties also indicated they were trying to secure PIPE financing.
There is no minimum cash condition to close. Read more.
