Biotech Values

[DewDiligence]

CHAC reverse-merges into BiomX:

https://finance.yahoo.com/news/chardan-healthcare-acquisition-corp-announces-121200652.html

Chardan Healthcare Acquisition Corp. (NYSE: CHAC)…a special purpose acquisition company sponsored by affiliates of Chardan Capital Markets LLC…announced today that it has entered into a definitive agreement for a business combination with BiomX Ltd., a microbiome company developing both natural and engineered phage therapies.

…the combined company will have an initial market capitalization of approximately $254 million. Upon closing of the transaction, it is expected that CHAC will be renamed BiomX and remain on the NYSE American Stock Exchange, listed under a new ticker symbol.

… After giving effect to the investor transactions being undertaken in order to meet the minimum cash condition, and assuming no redemption from CHAC shareholders, it is estimated that the current securityholders of BiomX will own approximately 73% of the issued and outstanding vested securities in the combined company at closing.

CHAC was created—and went public—for the express purpose of engineering a reverse merger.

p.s. This PR was issued yesterday.