NewAmsterdam Pharma to Go Public via FLAC SPAC Merger for ~$326M
Shots:
- NewAmsterdam has entered into a definitive business combination agreement with FLAC at a pro forma cash balance of $470M with a total enterprise value of $326M while NewAmsterdam to receive ~$235M from upsized PIPE at $10.00/ share & funds held in FLAC’s trust account. The transaction is expected to close in H2'22 & will fund NewAmsterdam until 2026, allowing it to launch a product
- NewAmsterdam & FLAC shareholders and PIPE investors will hold ordinary shares in a newly formed NewAmsterdam company which is expected to list its ordinary shares on Nasdaq under the ticker symbol “NAMS”
- NewAmsterdam’s obicetrapib showed a promising safety & >50% LDL-lowering efficacy on top of high-intensity statins for dyslipidemia through a P-IIb trial for CV disease
Ref: Bussinesswire | Image: NewAmsterdam Pharma
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
