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BioPlus Acquisition Corp. (NASDAQ: BIOS) is a special purpose acquisition company (SPAC) that was established to facilitate mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses. Primarily, BioPlus has focused its efforts on identifying promising opportunities within the healthcare industry across the United States, Europe, Israel, and Australasia.
On October 4, 2023, BioPlus announced the termination of its previously planned business combination with Avertix Medical, Inc. and other related parties. The agreement to terminate was mutual and included voiding all associated documents. As a result, BioPlus has decided to liquidate and dissolve as per the guidelines in its Amended and Restated Memorandum and Articles of Association.
In light of the liquidation, BioPlus intends to return funds to holders of its Class A ordinary shares at an estimated redemption price of approximately $10.79 per share. The process involves record holders delivering their Public Shares to Continental Stock Transfer & Trust Company, which serves as the Company’s transfer agent. Beneficial owners holding shares in 'street name' need not take any action to receive their redemption amount. The redemption is expected to be completed within ten business days after October 4, 2023.
Notably, there will be no redemption rights or liquidating distributions for the Company’s warrants, which are set to expire worthless. The company's sponsor has also waived its redemption rights related to Class B ordinary shares issued prior to the IPO, as well as Class A ordinary shares contained in units issued in a private placement concurrently with the IPO.
For those looking to keep track of the company’s latest developments, BioPlus provides updates and further information via its official communication channels. Investors and stakeholders are advised to stay informed about the company's activities, especially those pertaining to its liquidation process.
The Company, Riverbed|Aternity, announced the appointment of seven new directors to its Board of Directors following its recapitalization, effective December 7, 2021. These seasoned leaders bring diverse skills to enhance strategic goals and customer relationships. CEO Dan Smoot emphasized the Board's alignment with the Company's future vision and its improved financial profile. The new board members include R. Carter Pate, Steve Curts, and Patricia Hume, among others, each with significant experience in various sectors.
BioPlus Acquisition Corp. announced the pricing of its upsized initial public offering (IPO) of 20 million units at $10.00 each. The units will begin trading on Nasdaq on December 3, 2021, under the ticker symbol BIOSU. Each unit comprises one Class A share and one-half of a redeemable warrant, which allows the purchase of one Class A share at $11.50. The securities will eventually trade separately under BIOS for shares and BIOSW for warrants. The company focuses on the life sciences sector for its business combinations.
BioPlus Acquisition Corp. announced the pricing of its upsized initial public offering (IPO) of 20 million units at $10.00 per unit, set to trade on Nasdaq under the symbol BIOSU starting December 3, 2021. Each unit includes one Class A ordinary share and one-half of a redeemable warrant, with each whole warrant allowing the purchase of one share at $11.50. The company aims to pursue mergers or acquisitions primarily within the life sciences sector, with Cantor Fitzgerald & Co. as the sole book-running manager for this offering.
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What is a special purpose acquisition company (SPAC)?
