Citius to spin off oncology division into separate public company
American critical care specialist Citius Pharma (Nasdaq: CTXR) is to list its oncology subsidiary on the Nasdaq exchange, via merger with a special purpose acquisition company (SPAC).
For a short while in 2021 and 2022, SPAC mergers were a popular method for going public while avoiding an initial public offering (IPO), although they have now become rare.
Citius’ move will see TenX Keane Acquisition merging with the oncology division to become Citius Oncology, with the deal expected to close in the first half of 2024.
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