OTR Acquisition in a regulatory filing said its sharehodlers voted in favor of combining with Comera Life Sciences.
As of May 11, 10,279,363 shares had been redeemed, although the SPAC said it is aware some shareholders may reverse their decision, which will be allowed. OTR raised about $107 million in an IPO and PIPE in November 2020, which means redemptions virtually wiped out the SPAC’s cash in trust.
As announced in January, the deal was expected to provide approximately $107 million in gross proceeds from the cash held in trust by OTR.
OTR in the 8-K filing said it still expects the deal to close by May 19.
Comera is developing a new generation of bio-innovative biologic medicines. Read more.
