Haymaker Acquisition Corp. III (NASDAQ:HYAC) announced that its shareholders have voted to approve its combination with hormone-optimization medical practice builder Biote in a special meeting held earlier today.
Redemption numbers have not yet been disclosed. However, HYAC traded above its trust value of $10 throughout its redemption deadline Friday, May 20, and closed today at $10.06.
Nonetheless, the parties expect to close the deal on Thursday, May 26, 2022, and the common stock and warrants of the combined company are expected to commence trading on the Nasdaq Stock Exchange under the symbols “BTMD” and “BTMDW,” respectively, on Friday, May 27, 2022.
Haymaker III initially announced its $737 million combination with Biote on December 13, 2021. Irving, Texas-based Biote is a high-growth, differentiated medical practice-building business with a bioidentical hormone replacement optimization platform and complementary nutraceutical business. The company delivers an end-to-end platform that provides practitioners with medical education, training and certification, practice management software, and digital and point-of-care marketing support.
ADVISORS
- Cooley LLP is acting as legal advisor to Biote.
- Jefferies is acting as financial and capital markets advisor to Biote.
- Truist Securities is acting as financial advisor to Biote.
- William Blair is acting as financial and capital markets advisor to Haymaker.
- Citigroup is acting as financial advisor to Haymaker.
- Truist Securities and Cantor Fitzgerald are acting as capital markets advisors to Haymaker.
- DLA Piper LLP (US) and Ellenoff Grossman & Schole LLP are acting as legal advisors to Haymaker.
At the SPAC of Dawn There are signs that the macro environment for SPACs is gradually improving, but the Screaming Eagle team yesterday announced a non-redemption agreement for its combination with Lionsgate Studios. Such agreements are generally a lever one pulls when a SPAC expects a potentially turbulent closing. All in all, the terms for...
Israeli tech firms have made up an outsized proportion of SPAC activity and despite the ongoing tensions in its region, that dealmaking is continuing unabated. In fact, the SPAC named for the particular mission of taking Israeli firms public through SPACs, Israel Acquisition Corp. (NASDAQ:ISRL) in fact just took one step closer in completing that...
At the SPAC of Dawn Although the market has largely recovered from a negative stretch last week, the roller coaster is tilted back downward for Trump Media (NASDAQ:DJT), which slid -8% yesterday to $32.57 – one of its lowest points since closing with Digital World last month. Other SPACs and de-SPACs are having a more...
Remember the metaverse? Many do not. Meta’s (NASDAQ:META) attempted transition to virtually living and working seemed to mark a trend that went up and down quickly, but one SPAC deal has both survived that roller coaster and may rise with a second. Back in December 2022, Newbury Street (NASDAQ:NBST) announced a $1.85 billion combination with...
At the SPAC of Dawn Tucked into the bill that provides $95 billion in funding to American allies passed by the House this weekend is another measure that is likely to have far more impact on at least one pending deal in SPAC world. It would appear that the timing was fortuitous for TikTok rival...