Nuvation Bio Completes SPAC Merger, Raises $100M
Ticker: NUVB · Form: 8-K · Filed: Apr 10, 2024 · CIK: 1811063
Sentiment: bullish
Topics: spac, financing, oncology, merger
Related Tickers: ANZU
TL;DR
Nuvation Bio is now public (NUVB) after a SPAC deal and $100M raise, ready to push cancer drugs.
AI Summary
Nuvation Bio Inc. announced on April 9, 2024, the completion of its business combination with Anzu Special Acquisition Corp I. This transaction resulted in the combined entity being renamed Nuvation Bio Inc. and listed on the NYSE under the ticker symbol "NUVB". The company also announced the closing of a concurrent private placement financing of approximately $100 million.
Why It Matters
This SPAC merger and concurrent financing provide Nuvation Bio with significant capital to advance its pipeline of oncology drug candidates, potentially accelerating their development and market entry.
Risk Assessment
Risk Level: medium — The company is in the clinical development stage for its drug candidates, which carries inherent risks associated with drug development and regulatory approval.
Key Numbers
- $100.0M — Private Placement Financing (Capital raised to fund oncology drug development)
Key Players & Entities
- Nuvation Bio Inc. (company) — Company completing business combination
- Anzu Special Acquisition Corp I (company) — SPAC entity merging with Nuvation Bio
- NUVB (company) — New ticker symbol on NYSE
- $100 million (dollar_amount) — Amount raised in private placement
- April 9, 2024 (date) — Date of business combination completion
FAQ
What is the new name and ticker symbol of the combined entity?
The combined entity is named Nuvation Bio Inc. and its ticker symbol on the NYSE is NUVB.
What was the total amount raised in the concurrent private placement?
The concurrent private placement financing raised approximately $100 million.
When did the business combination between Nuvation Bio and Anzu Special Acquisition Corp I complete?
The business combination completed on April 9, 2024.
What is Nuvation Bio's primary business focus?
Nuvation Bio is focused on developing oncology drug candidates.
Where will the combined company be listed?
The combined company will be listed on the New York Stock Exchange (NYSE).
Filing Stats: 2,678 words · 11 min read · ~9 pages · Grade level 10.2 · Accepted 2024-04-10 16:06:10
Key Financial Figures
- $0.0001 — which registered Class A Common Stock, $0.0001 par value per share NUVB The New Yo
- $11.50 — of Common Stock at an exercise price of $11.50 per share NUVB.WS The New York Stoc
Filing Documents
- d824232d8k.htm (8-K) — 47KB
- d824232dex101.htm (EX-10.1) — 169KB
- 0001193125-24-091875.txt ( ) — 421KB
- nuvb-20240409.xsd (EX-101.SCH) — 4KB
- nuvb-20240409_def.xml (EX-101.DEF) — 14KB
- nuvb-20240409_lab.xml (EX-101.LAB) — 23KB
- nuvb-20240409_pre.xml (EX-101.PRE) — 15KB
- d824232d8k_htm.xml (XML) — 6KB
Financial Statements and Exhibits
Financial Statements and Exhibits. (a) Financial Statements of Businesses or Funds Acquired The Company will file the financial statements required by this item in connection with the Acquisition by amendment to this Current Report on Form 8-K to be filed no later than 71 calendar days after the date by which this Current Report on Form 8-K is required to be filed. (b) Pro Forma Financial Information The Company will file the pro forma financial information required by this item in connection with the Acquisition by amendment to this Current Report on Form 8-K to be filed no later than 71 calendar days after the date by which this Current Report on Form 8-K is required to be filed. (d) Exhibits 2.1 Agreement and Plan of Merger and Reorganization, dated March 24, 2024, by and among Nuvation Bio Inc., AnHeart Therapeutics Ltd., Artemis Merger Sub I, Ltd. and Artemis Merger Sub II, Ltd. (incorporated by reference to Exhibit 2.1 to the Current Report on From 8-K of Nuvation Bio Inc. (File No. 001-39351) filed on March 25, 2024)* 3.1 Form of Certificate of Designation of Preferences, Rights and Limitations of Series A Non-Voting Convertible Preferred Stock (incorporated by reference to Exhibit 3.1 to the Current Report on Form 8-K of Nuvation Bio Inc. (File No. 001-39351) filed on March 25, 2024). 10.1 Amended and Restated Warrant Agreement, dated April 9, 2024, by and among Nuvation Bio Inc. and Continental Stock Transfer & Trust Company. 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. * Schedules and exhibits have been omitted pursuant to Item 601(b)(2) of Regulation S-K. A copy of any omitted schedule and/or exhibit will be furnished to the Securities and Exchange Commission upon request. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authori