2023-07-24 07:27:45 ET
- Special purpose acquisition company BlueRiver Acquisition ( NYSE: BLUA ) said on Monday that it is set to merge with the medical device company Spinal Stabilization Technologies.
- The two companies have entered into a definitive business combination agreement.
- The combined company will operate as Spinal Stabilization Technologies, and have an estimated post-transaction enterprise value of ~$302M.
- Any proceeds from the transaction will be used to execute on the company's business plan.
- Both the boards have approved the transaction.
- The transaction is expected to close in Q4'23 or early 2024.
- BLUA shares were trading -10.28% pre-market.
- Source: Press Release
For further details see:
BlueRiver Acquisition to merge with medical device company Spinal Stabilization Technologies