ANEW MEDICAL Enters Definitive Merger Agreement With SPAC Company Redwoods Acquisition
Portfolio Pulse from Benzinga Newsdesk
ANEW MEDICAL has entered a definitive merger agreement with SPAC company Redwoods Acquisition, valuing the combined company at $94 million. The transaction is expected to provide $54 million in cash proceeds and the combined company will operate as ANEW MEDICAL, remaining listed on NASDAQ.
May 30, 2023 | 10:05 am
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Redwoods Acquisition (RWOD) is merging with ANEW MEDICAL, valuing the combined company at $94 million. The transaction is expected to provide $54 million in cash proceeds.
The merger between Redwoods Acquisition and ANEW MEDICAL is expected to have a positive short-term impact on RWOD's stock price. The combined company will have a pro forma enterprise value of $94 million and will provide $54 million in cash proceeds, which can be used for growth and expansion. The company will remain listed on NASDAQ, providing continued liquidity for investors.
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