European Biotech Acquisition filed a preliniary proxy on its proposed merger with eyecare-focused biopharmaceutical company Oculis, a deal with an enterprise value of approximately $220 million.
Announced last month the transaction includes commitments to an upsized PIPE and private investment of close to $80 million, anchored by LSP 7, with the participation of institutional investors including Earlybird, Novartis Venture Fund, Pivotal bioVenture Partners, funds managed by Tekla Capital Management and VI Partners, among others.
The business combination is expected to deliver gross proceeds to Oculis in excess of $200 million (assuming no redemptions). This includes approximately $127.5 million held in EBAC’s trust as well as commitments to the upsized PIPE. Read more.
