SRNE - GX Acquisition combines with Celularity

GX Acquisition Corp. (GXGX) has agreed to combine with Celularity Inc., a clinical-stage biotechnology company. The transaction expected in Q2 2021 will make GX Acquisition Corp. being renamed Celularity Inc.The common stock and warrants of the special purpose acquisition company are expected to remain listed on Nasdaq under the new ticker symbols "CELU" and "CELUW."Through the sale of approximately $80 million of GX Acquisition Corp. Class A common stock at $10.00 per share, a group of institutional investors and certain individuals have committed to participate in a concurrent equity financing.These include Starr Insurance Companies, Dragasac Limited, Sorrento Therapeutics (SRNE), as well as unaffiliated institutional investors.Including ~$292 million held in GX Acquisition Corp.'s trust account, the ~$372 million of total expected proceeds will be added to combined company's balance sheet, according to a statement from two companies.The boards of directors of both GX Acquisition Corp. and Celularity have unanimously approved the proposed

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GX Acquisition combines with Celularity