Panacea Acquisition Corporation (NYSE:PANA) announced that its shareholders have approved its combination with drug developer Nuvation Bio at a special meeting earlier today.
No redemption information was given. The vote results were ~94% in favor of the combination with ~6% voting against the merger, with 500 shares abstaining.
Panacea expects the deal to close February 10, 2021. The combined entity will begin publicly trading on the New York Stock Exchange under the new symbols “NUVB” and “NUVBW”, respectively, on February 11, 2021.
Panacea initially announced its $1.3 billion combination with Nuvation Bio on October 21. New York-based Nuvation Bio is developing six novel treatments for a variety of cancer types.
ADVISORS
- Jefferies is acting as lead capital markets and financial advisor to Nuvation Bio.
- BMO Capital Markets, BTIG, RBC Capital Markets and Wedbush PacGrow are also acting as advisors to Nuvation Bio.
- Cooley is acting as legal counsel to Nuvation Bio.
- Cowen is acting as financial advisor to Panacea and private placement agent.
- Skadden Arps Slate Meagher & Flom is acting as legal counsel to Panacea.
News and Rumors PR: Bannix (NASDAQ:BNIX) has provided more information on the combination with VisionWave that it announced yesterday, specifying that the imaging technology that VisionWave will acquire from GBT Technologies will primarily seek out applications in military combat scenarios and geological surveys. PR: Grove Collaborative (NYSE:GROV), which combined with Virgin Group II in June...
At the SPAC of Dawn Fed Chair Jerome Powell has given new hints that the administration would be showing greater levels of comfort with inflation if a cut could help improve unemployment numbers. Those numbers could get an update today at 8:30 am ET to bring new jobless claims as well as final prices for...
News and Rumors CNBC: Former WeWork (OTC Pink:WEWKQ) founder Adam Neumann has offered to buy back control of the company for $500 million but has yet to secure the necessary financing. WeWork went public with BowX in October 2021. PR: Satellite telecom firm Spire Global (NYSE:SPIR) has signed an agreement to build and launch two...
Bannix (NASDAQ:BNIX) has entered into a definitive agreement to combine with VisionWave Technologies for $30 million. The combined company is expected to trade on the Nasdaq once the deal is completed with an initial outside date of September 14. Transaction Overview Bannix has about $17 million in its trust after seeing 77.4% of its shares...
At the SPAC of Dawn Much of the attention yesterday was on tracking the swings of the newly-completed Trump Media (NASDAQ:DJT) deal with the FT going as far to suggest it may “make SPACs great again.” Not all of the day’s data points were on the positive side of the ledger, however. IB Acquisition Corp....