Worthington Steel, Inc. - WS STOCK NEWS

Novus Capital Corporation II (NYSE:NXU, NXU WS) announced the SEC has declared effective its Registration Statement on Form S-4 regarding a merger with Energy Vault, Inc., a sustainable energy storage solutions provider. A Special Meeting for Novus stockholders is set for February 10, 2022, to approve the Business Combination, with a deadline for proxy submissions by February 9, 2022. If approved, trading under the new ticker symbol 'NRGV' is anticipated to begin shortly thereafter. Energy Vault's solutions aim to reduce costs for utilities and enhance energy supply reliability.

Health Canada has approved the marketing of SIMLANDI (AVT02), a biosimilar to Humira, developed by Alvotech in collaboration with JAMP Pharma. This approval permits the launch of high-concentration presentations (40 mg/0.4 mL and 80 mg/0.8 mL) in Canada, which previously lacked such options. With Humira's global sales exceeding $20 billion and $700 million in Canada, the launch positions SIMLANDI to capture significant market share. JAMP Pharma aims to provide a lower-cost alternative, ultimately offering patients a citrate-free option and fewer injections.

Energy Vault announced that CEO Robert Piconi will present at the 24th Annual Needham Growth Conference on January 13, 2022, at 5:00 pm ET. The presentation will be available via webcast. Additionally, Energy Vault is moving forward with a business combination with Novus Capital Corporation II (NYSE: NXU, WS), a SPAC. This merger aims to enhance Energy Vault's mission to provide sustainable, grid-scale energy storage solutions, using innovative gravity-based technology to support the transition to a carbon-free power grid.

TPG Pace Beneficial Finance Corp. (NYSE: TPGY,WS) and EVBox Group have mutually terminated their business combination agreement. Effective immediately, TPG Pace will seek to pursue a new business combination target. While discussions with EVBox may continue, there are no obligations to finalize any deal. Founded in 1992, TPG manages $109 billion in assets globally and has sponsored seven SPACs since 2015, raising over $4.4 billion. TPG aims to focus on opportunities featuring strong ESG principles.

Alvotech Holdings S.A. has received approval from the European Commission for its biosimilar AVT02, a high concentration version of Humira (adalimumab), on November 15. This approval covers all EU Member States and countries in the EEA. Humira generated approximately US$20 billion in sales in 2020. Alvotech aims to improve access to affordable biosimilars, marking a significant milestone in its growth strategy. Alvotech is set to merge with Oaktree Acquisition Corp. II, with the combined entity expected to trade on NASDAQ under the symbol 'ALVO.'

Energy Vault and BHP have formed a strategic collaboration to deploy Energy Vault's energy storage solutions in BHP's mining operations. This partnership is part of BHP's Series C funding round and includes a Memorandum of Understanding to explore applications for energy storage technology. Enhanced collaboration may also lead to eco-friendly initiatives, such as using mine tailings for eco-brick manufacturing. The agreement marks an opportunity for Energy Vault to expand into Australian markets and supports BHP's decarbonization efforts, potentially improving sustainability.

Alvotech and Oaktree Acquisition Corp. II announce a definitive merger agreement, creating a combined entity valued at approximately $2.25 billion. This transaction is projected to provide over $450 million in gross proceeds to Alvotech, supporting its mission to deliver affordable biosimilar medicines globally. Alvotech's pipeline includes seven biosimilar candidates, with anticipated sales exceeding $80 billion. The merger is unanimously approved and expected to finalize in the first half of 2022.

ION Acquisition Corp 2 Ltd. (NYSE: IACB.U, IACB, IACB WS) announced a special meeting on November 29, 2021, to approve its business combination with Innovid, Inc., a leading CTV advertising platform. The U.S. SEC has declared effective ION's Registration Statement on Form S-4 related to this merger. The closing of the business combination is contingent upon shareholder approval and standard closing conditions. The merger aims to enhance Innovid's advertising solutions and market position.