- Cancer drugmaker Apollomics agreed to go public through a deal with SPAC Maxpro Capital Acquisition Corp. ( NASDAQ: JMAC ). JMAC ticked up 1% in premarket trading.
- The deal values Apollomics at a pre-money equity value of $899 million, according to a statement . Upon close of the deal Apollomics plans to retain $105 million of cash.
- Apollomics has a pipeline of nine clinical, preclinical and discovery drug candidates that may have the potential to improve treatment of a number of tumor types, according to a press release.
- The business combination is expected to close in the Q1 and Apollomics is expected to be listed on Nasdaq under the ticker “APLM.”
- The news was earlier reported by Bloomberg.
- ARC Group Limited is acting as financial advisor to Maxpro. EF Hutton is acting as capital market advisor to Maxpro. White & Case LLP is acting as legal counsel to Apollomics. Nelson Mullins Riley & Scarborough LLP is acting as legal counsel to Maxpro.
- Maxpro, a Taiwan based SPAC, raised $104 million in an IPO in October.
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Cancer drugmaker Apollomics agrees to go public through SPAC Maxpro Capital