Spinal Stabilization Technologies to go Public via BlueRiver Acquisition Corp. SPAC Merger for ~$302M
Shots:
- The combined company will have an estimated post-transaction enterprise value of ~$302M assuming a proposed future $40.0M in PIPE & 100% redemptions by BlueRiver public shareholders. The transaction is expected to close in Q4’23 or early 2024
- SST shareholders will roll 100% of their existing SST equity holdings & are expected to own equity-linked securities representing ~70% of the combined company on a non-fully diluted basis. The combined company will operate as Spinal Stabilization Technologies and be listed on an approved stock exchange
- In Mar 2021, the US FDA granted the breakthrough device designation to SST's PerQdisc Nucleus Replacement System, an innovative lumbar intervertebral disc nucleus replacement
Ref: Businesswire | Image: Spinal Stabilization Technologies
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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.
