Brief: Orchestra Biomed™ Announces Strategic Collaboration, Closing Of $110 Million Private Equity Financing And Plans To List On Nasdaq

Orchestra Biomed Holdings

05/07/2022 13:16

July 5 (Reuters) - Health Sciences Acquisitions Corp 2
 HSAQ.O :
    * ORCHESTRA BIOMED™ ANNOUNCES STRATEGIC COLLABORATION,
CLOSING OF
$110 MILLION PRIVATE EQUITY FINANCING AND PLANS TO LIST ON
NASDAQ THROUGH MERGER WITH HEALTH SCIENCES ACQUISITIONS
CORPORATION 2
    * ORCHESTRA BIOMED - ON CLOSING OF DEAL WITH HEALTH SCIENCES
ACQUISITIONS CORPORATION 2, STOCK OF COMBINED CO TO BE LISTED ON
NASDAQ UNDER TICKER "OBIO"
    * ORCHESTRA BIOMED - BUSINESS COMBINATION AGREEMENT BETWEEN
CO &
HSAC2, TO PROVIDE MINIMUM OF $70 MILLION IN GROSS PROCEEDS TO
COMBINED CO AT CLOSING
    * ORCHESTRA BIOMED - COMBINED COMPANY'S PRO FORMA FULLY
DILUTED
ENTERPRISE VALUE IS EXPECTED TO BE $158 MILLION
    * ORCHESTRA BIOMED - UPON CLOSING OF TRANSACTION, COMBINED
COMPANY
WILL BE NAMED ORCHESTRA BIOMED HOLDINGS, INC AND WILL BE LED BY
DAVID HOCHMAN
    * ORCHESTRA BIOMED - BUSINESS COMBINATION & COMPLETED
PRIVATE
EQUITY FINANCING ARE STRUCTURED TO ENSURE TOTAL GROSS PROCEEDS
OF A MINIMUM OF $180 MILLION
    * ORCHESTRA BIOMED -  BUSINESS COMBINATION & COMPLETED
PRIVATE
EQUITY FINANCING TO FUND COMBINED CO INTO 2026 BASED ON CURRENT
PLANS AND ESTIMATES
    * ORCHESTRA BIOMED - INVESTORS IN $110 MILLION SERIES D
FINANCING
INCLUDE MEDTRONIC AND TERUMO
    * ORCHESTRA BIOMED - ALSO ANNOUNCES STRATEGIC COLLABORATION
WITH
MEDTRONIC TO DEVELOP BACKBEAT CARDIAC NEUROMODULATION THERAPY

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