2023-06-15 14:25:32 ET
Singapore's AUM Biosciences (AUMB) has terminated its planned merger with SPAC Mountain Crest Acquisition Corp V ( NASDAQ: MCAG ).
The SPAC made the disclosure in an SEC filing late Wednesday . No reason was given for the termination.
AUM had agreed to go public through a merger with Mountain Crest that valued the biotech company at a pre-money equity value of around $400M. The companies announced the deal in October 2022.
After the closing, shares of AUM were expected to trade on Nasdaq under the symbol AUMB.
More on AUM and Mountain Crest:
Mountain Crest Acquisition Corp. V SEC Filing - Quarterly Report May 15, 2023
Aum Biosciences' therapy for nerve cancer gets FDA orphan drug status
For further details see:
AUM Biosciences terminates merger with SPAC Mountain Crest V