NewAmsterdam has entered into a definitive business combination agreement with FLAC at a pro forma cash balance of $470M with a total enterprise value of $326M while NewAmsterdam to receive ~$235M from upsized PIPE at $10.00/ share & funds held in FLAC’s trust account. The transaction is expected to close in H2’22 & will fund NewAmsterdam until 2026, allowing it to launch a product
NewAmsterdam & FLAC shareholders and PIPE investors will hold ordinary shares in a newly formed NewAmsterdam company which is expected to list its ordinary shares on Nasdaq under the ticker symbol “NAMS”
NewAmsterdam’s obicetrapib showed a promising safety & >50% LDL-lowering efficacy on top of high-intensity statins for dyslipidemia through a P-IIb trial for CV disease
Ref: Bussinesswire | Image: NewAmsterdam Pharma
