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Aesther Healthcare Acquisition Corp (NASDAQ: AEHA) has announced a merger with Ocean Biomedical, which will operate as a wholly-owned subsidiary post-transaction. The new entity will be known as Ocean Biomedical, Inc and listed on NASDAQ under the symbol 'OCEA'. This merger is expected to enhance efforts in developing new antimalarial drugs targeting the PfGARP protein, a significant advancement given the rise of artemisinin-resistant malaria. Ocean Biomedical aims to contribute significantly to malaria treatment and prevention, addressing a critical public health challenge.
Aesther Healthcare Acquisition Corp (NASDAQ: AEHA) has filed a preliminary proxy statement with the SEC regarding its merger with Ocean Biomedical, a biopharma firm focused on oncology and infectious diseases. The transaction aims to provide Ocean with approximately $105 million in cash upon completion, supporting its drug development efforts. The combined entity will operate under the name Ocean Biomedical, Inc. and list on Nasdaq as 'OCEA' and 'OCEAW.' This merger, expected to finalize by Q4 2022, has been unanimously approved by both boards, and aims to enhance shareholder value.
Aesther Healthcare Acquisition Corp (NASDAQ: AEHA) announced a merger agreement with Ocean Biomedical, Inc. on September 8, 2022. The partnership aims to expedite the development of Ocean's innovative assets targeting oncology, fibrosis, and infectious diseases, backed by $123.9 million in grants. Aesther also entered a Common Stock Purchase Agreement with White Lion Capital LLC, which may provide up to $75 million for the advancement of Ocean's clinical trials. This merger is expected to provide significant capital to foster breakthroughs in treatment for several critical health conditions.
Aesther Healthcare Acquisition Corp (NASDAQ: AEHA) announced that Ocean Biomedical will become its wholly owned subsidiary and rebrand to Ocean Biomedical, Inc., listed on NASDAQ as "OCEA." They revealed promising discoveries of bispecific antibodies targeting Chitinase 3-like-1 and immune checkpoint inhibitors, achieving over 90% efficacy in preventing metastasis of melanoma and glioblastoma cells. This discovery may potentially benefit lung cancer and brain cancer patients significantly. The CEO of Aesther expressed optimism about future shareholder value.
Aesther Healthcare Acquisition Corp (NASDAQ: AEHA) has announced a merger with Ocean Biomedical, Inc., a biopharma firm focused on oncology, fibrosis, and infectious diseases. This combination aims to streamline the development of innovative therapies, supported by $123.9 million in grants. Post-merger, the new entity will operate under the name Ocean Biomedical, Inc., with a pro forma enterprise value of $345 million. The transaction is expected to close in Q4 2022, subject to approvals. The combined entity plans to leverage its diverse pipeline for broader disease indications.
Aesther Healthcare Acquisition Corp. (NASDAQ: AEHA) has announced a merger with United Gear & Assembly, Inc., a manufacturer of precision gears for electric vehicles. This merger will make United Gear a wholly-owned subsidiary of Aesther, which will subsequently change its name to EVGT LTD and trade under the ticker symbol EVGT on NASDAQ. United Gear operates in several large markets, including the $287.4B electric vehicles segment, and has established relationships with major manufacturers. The merger aims to position the combined entity for growth and innovation in the rapidly evolving automotive industry.
Aesther Healthcare Acquisition Corp. (Nasdaq: AEHAU) announced that starting November 5, 2021, holders of its initial public offering units may separately trade shares of Class A common stock and redeemable warrants. The Class A common stock will trade under the symbol AEHA and the warrants under AEHAW. The company will not issue fractional warrants and only whole warrants will trade. The units will continue to trade under AEHAU. This announcement follows a registration statement effective since September 14, 2021.
Aesther Healthcare Acquisition Corp. (Nasdaq: AEHAU) successfully closed its initial public offering on September 17, 2021, selling 10,000,000 units at $10.00 each, raising approximately $105 million including over-allotments. Each unit consists of a share of Class A common stock and half a redeemable warrant, exercisable at $11.50. Trading for these units began on September 15, 2021. Aesther, a blank check company, aims to pursue business combinations primarily in the pharmaceutical and medical device sectors.
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