Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: Asia Innovations in talks to merge with E.Merge Technology and Alvotech announces positive results from clinical study for AVT04
Parent of Social Platform Uplive is Discussing Deal With E.Merge SPAC
Asia Innovations Group Ltd., the startup that operates social platform Uplive, is in talks to go public through a merger with E.Merge Technology Acquisition Corp. (NASDAQ:ETACU).
Any transaction is set to value the combined company at more than $2 billion. E.Merge is poised to begin formally canvassing PIPE investors for capital to support the transaction. Its company’s revenue more than doubled in 2021 to about $300 million.
READAlvotech Clinical Study Results Demonstrate Therapeutic Equivalence Between Biosimilar Candidate AVT04 and Reference Product Stelara
Alvotech Holdings S.A., a global biotech company focused solely on the development and manufacture of biosimilar medicines for patients worldwide, today announced positive results from a confirmatory clinical study for AVT04, Alvotech’s proposed biosimilar to Stelara®. Alvotech is the second company to announce positive results from a patient study utilizing a biosimilar candidate to Stelara®. Teva Pharmaceuticals, a U.S. affiliate of Teva Pharmaceutical Industries Ltd. (NYSE and TASE: TEVA) is the exclusive strategic partner for the commercialization of AVT04 in the United States. STADA is the company’s exclusive strategic partner for AVT04 for the European market.
On December 7, 2021, Alvotech and Oaktree Acquisition Corp. II (NYSE: OACB), a special purpose acquisition company sponsored by an affiliate of Oaktree Capital Management, L.P., announced they had entered into a definitive business combination agreement.
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At the SPAC of Dawn On a day when the US markets are closed, there’s always a chance of SPAC actions sliding by as the SEC has left its EDGAR filing system open. Right on cue, Welsbach Technology (NASDAQ:WTMA) filed that it had come to a definitive agreement with battery production technology firm Evolution Metals....
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...