Celularity, a clinical-stage biotechnology company, and GX Acquisition announced they have entered into a definitive merger agreement.
Upon closing, which is expected in the second quarter, the combined company will be renamed Celularity, and common stock and warrants are expected to remain listed on the Nasdaq under CELU and CELUW.
In addition to the approximately $292 million held in GX Acquisition Corp.’s trust account (assuming no stockholder redemptions), a group of existing and other institutional investors have committed to participate in a concurrent equity financing through the sale of approximately $80 million of GX Acquisition Class A common stock at $10 per share. Investors in the PIPE include existing Celularity stockholders or their affiliates including Starr Insurance Companies, Dragasac Limited, Sorrento Therapeutics, as well as unaffiliated institutional investors. Read more.
