Aesther Healthcare (AEHA) Terminates United Gear Deal
by Marlena Haddad on 2022-07-19 at 8:31pm

Aesther Healthcare Acquisition Corp. (NASDAQ: AEHA) announced this afternoon that it has mutually terminated its combination agreement with automotive component manufacturer United Gear & Assembly.

The termination comes just two weeks after AEHA secured a common stock purchase agreement and not even two months after deal announcement.  And while today’s 8-K did not disclose the reason for the breakup, it is likely that unfavorable market conditions played a significant role.

Aesther originally brought an estimated $105 million into the deal from its current trust and did not supplement the deal with a PIPE, but secured a common stock purchase agreement of up to $50 million earlier this month. This purchase agreement will also be terminated upon the termination of the merger agreement.

Going forward, AEHA intends to continue to identify and pursue a business combination with an appropriate target. Additionally, AEHA still has two months left on its clock, but can automatically extend their deadline two times for three-months each by contributing $0.10 per share to trust. AEHA raised $100 million at IPO last year on September 14, 2021 and initially intended to combine with a pharmaceutical or healthcare-focused business that has strong access to transformative technology. The SPAC is led by Chairman and CEO Suren Ajjarapu and CFO and Secretary Howard A. Doss.

Aesther Healthcare announced its business combination with United Gear just several weeks ago on May 27, right before the Memorial Day weekend. Hudson, Wisconsin-based United Gear is a subsidiary of United Stars Holdings, focused on manufacturing small to medium-sized precision gears and shafts for a variety of industries.

 

Aesther Healthcare (AEHA) Terminates United Gear Deal
Recent Posts
by Nicholas Alan Clayton on 2025-07-01 at 3:49pm

D. Boral ARC Acquisition II Corp. (NASDAQ:ARBCU) has filed for a $250 million SPAC to give underwriter D. Boral a second in-house SPAC to pursue deals with. The new SPAC offers investors a 1/2 warrant and an initial 18-month time frame to complete a deal. D. Boral II’s sponsor may automatically extend this once by...

by Nicholas Alan Clayton on 2025-07-01 at 11:33am

Ribbon (NASDAQ:RIBB) has entered into a definitive agreement to combine with Japanese biotech firm DRC Medicine at a pro forma equity value of $422 million. Tokyo-based DRC Medicine manufactures reusable anti-bacterial and anti-allergen wearables and aims to go deeper into the medical device and pharmaceutical space. Transaction Overview Ribbon is expected to provide $50.4 million...

by Henrique Santa Rosa, CFA on 2025-07-01 at 11:09am

In June 2025, the SPAC market was marked by a notable rise in meeting delays, with adjournments and postponements playing a central role in extension activity, as sponsors navigated a more cautious market environment. Still, several SPACs secured shareholder approvals, and seven business combinations were completed during the month. At the same time, IPO issuance...

by Kristi Marvin on 2025-07-01 at 8:42am

An In-Depth Look at SPAC Activity Through the Second Quarter & First Half 2025 Below is a summary of the first half of 2025 SPAC market. If you’d like a pdf copy, you can access the link HERE. Q2 kicked off in chaos. President Trump’s shifting and often contradictory tariff announcements sent markets reeling, driving...

by Nicholas Alan Clayton on 2025-07-01 at 8:25am

At the SPAC of Dawn The market is set to be showered with new SPACs today as three more SPACs priced their IPOs overnight, bringing 2025’s total to 66, already surpassing the full-year total of 2024. After hours, Ribbon (NASDAQ:RIBB) also added a new SPAC deal to June’s tally just under the wire, bringing the...

logo

Copyright © 2025 SPACInsider, Inc. All Rights Reserved