Coeptis Therapeutics closes SPAC deal with Bull Horn

Having soared as much as 164% earlier in the day, shares of USA-based Coeptis Therapeutics (OTC PINK: COEP) closed down 45% at $6.50 on the Nasdaq, after it announced the completion of its business combination with Bull Horn Holdings (Nasdaq: BHSE), a special purpose acquisition company (SPAC).

The combined company has been renamed "Coeptis Therapeutics Holdings,” and its public shares and warrants are expected to commence trading on the Nasdaq Global Market under the ticker symbols "COEP" and "COEPW," respectively, October 31, 2022. The company will continue to focus primarily on the development of innovative cell therapy platforms for patients with cancer.

Under the terms of the combination, the former stockholders of Coeptis exchanged their shares of common stock for common stock of Bull Horn at a rate of 2.96851721 for 1. Following that, the company has around 19.5 million shares of common stock issued and outstanding, with the former stockholders of Coeptis now owning about 88% of the company, and the existing shareholders of Bull Horn about 12% of the company.