The combined company will have a pro forma enterprise value of ~$319.6M. APRINOIA will receive $280M in equity value, $7.5M from an affiliate of Ross and $5M from other investors incl. ~$350.6M in ROSS’s trust account. The transaction is expected to be completed in H1’23
APRINOIA’s existing shareholders will hold b/w 42% & 74% of the combined company based on the level of redemptions by ROSS shareholders. APRINOIA & ROSS will become a wholly owned subsidiary of the combined company, APRINOIA Therapeutics & the combined company is expected to be traded on Nasdaq or NYSE
APRINOIA focused on developing a pipeline of highly specific CNS diagnostics & therapeutics, incl. APN-1607 & APN-005 for neurodegenerative disease. APN-1607 is in the P-II trial for AD & APN-005 is currently being studied in the P-I study in the US
Ref: PRNewswire | Image: APRINOIA Therapeutics
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