BLUE - Blue Water Acquisition up 178% premarket on eve of shareholder vote

Shares of SPAC Blue Water Acquisition Corp. (NASDAQ:BLUE) are up more than 178% in premarket trading on the eve of a shareholder vote to combine with Clarus Therapeutics. As a combined entity, the company plans to accelerate commercialization of an oral testosterone replacement therapy and fund expansion of the company's pipeline of androgen and metabolic therapies for men and women. When the merger was first announced in April, Clarus was valued at $379M.

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Blue Water Acquisition up 178% premarket on eve of shareholder vote