LEAS - ANEW MEDICAL and Redwoods enter merger agreement

2023-06-06 07:48:35 ET

• Early-stage biotechnology company ANEW MEDICAL ( OTCPK:LEAS ) announces business combination with Redwoods Acquisition ( RWOD ).
• The pro forma enterprise value of the combined company is up to $94M, which includes up to $54M of cash held in the trust account of Redwoods, which is subject to redemption by Redwoods stockholders.
• These values exclude up to 5M of additional earn-out shares that would be issued to ANEW stockholders if applicable stock performance-based requirements are met.
• ANEW is dedicated to realizing the potential of gene therapies to offer transformative patient outcomes in areas of high unmet medical need and extending the reach of gene therapies to highly prevalent neurodegenerative disorders.

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