Artisan Acquisition in a regulatory filing announced its shareholders voted in favor of merging with Prenetics, a genomic and diagnostic testing company.
No word on redemptions, if any, although the SPAC consistently traded about $10 up through its redemption deadline. Voting shareholders overwhelmingly approved the deal.
As announced last September, the transaction gives Prenetics an enterprise value of $1.25 billion with a combined equity value of approximately $1.7 billion, which would make the company the first unicorn from Hong Kong to be publicly listed in any market if the deal is ultimately approved.
The SPAC in April disclosed extensive changes to the merger agreement, including amendments to the share conversion ratio, the PIPE financing and forward-purchase agreements and the business combination. The sponsor’s lockup on selling 50% of its stake, post merger, was cut in half to six months, with the remainder clear to sell after 12 months, post-merger, down from 18 months.
Prenetics shares and warrants are expected to begin trading May 18 on the Nasdaq under the symbols PRE and PRENW. Read more.
