SPAC deal to drive forward APRINOIA's ambitions

18 January 2023

Neurodegenerative diseases specialist APRINOIA Therapeutics has announced a merger with Ross Acquisition Corp II (NYSE: ROSS), a special purpose acquisition company (SPAC) founded by former US Secretary of Commerce Wilbur Ross.

They are combining at an implied fully diluted transaction equity value of $280 million for APRINOIA. Both will become a wholly-owned subsidiary of the combined company.

The newly-formed entity will be called APRINOIA Therapeutics Holdings. The business combination values the post-closing combined business at a pro-forma enterprise value of up to $319.6 million.

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