Brief: Liminatus Pharma And Iris Acquisition Corp To Combine To Incorporate And Accelerate Much-Needed Cancer Treatments

Liminatus Pharma

01/12/2022 01:53

Nov 30 (Reuters) - Iris Acquisition Corp  IRAA.O :
    * LIMINATUS PHARMA LLC AND IRIS ACQUISITION CORP TO COMBINE
TO
INCORPORATE AND ACCELERATE MUCH-NEEDED CANCER TREATMENTS
    * TRANSACTION VALUES COMBINED COMPANIES AT A PRO FORMA
ENTERPRISE
VALUE OF $334 MILLION
    * TRANSACTION IS EXPECTED TO BE COMPLETED IN FIRST HALF OF
2023
    * COMBINED COMPANY'S COMMON STOCK IS EXPECTED TO BE LISTED
ON
NASDAQ CAPITAL MARKET
    * TRANSACTION FUNDING INCLUDES COMMITMENTS FOR A $15 MILLION
COMMON STOCK PIPE FINANCING AND A $25 MILLION CONVERTIBLE NOTE
FINANCING
    * COMBINED COMPANY WILL BEAR DEFERRED UNDERWRITING
COMMISSIONS AND
TRANSACTION EXPENSES OUT OF GROSS PROCEEDS
    * TRANSACTION HAS BEEN APPROVED BY LIMINATUS'S AND IRIS'
BOARDS OF
DIRECTORS

Source text for Eikon:  ID:nBwFp9X5a 
Further company coverage:  IRAA.O 
 ((Reuters.Briefs@thomsonreuters.com;))