TradeUP Acquisition Corp. And Estrella Biopharma, Inc. Announce Completion Of Business Combination
Portfolio Pulse from Benzinga Newsdesk
TradeUP Acquisition Corp. (UPTD) has completed its business combination with Estrella Biopharma, Inc., forming a new entity named Estrella Immunopharma, Inc. The combined company will trade on NASDAQ under the symbols 'ESLA' and 'ESLAW' from October 2, 2023. Prior to the merger, Estrella closed its Series A preferred stock financings with gross proceeds of $9.75 million and a short-term debt financing with gross proceeds of $0.30 million. UPTD also closed a private placement of its common stock with gross proceeds of $10.00 million.
September 29, 2023 | 2:37 pm
News sentiment analysis
Sort by:
Descending
POSITIVE IMPACT
TradeUP Acquisition Corp. (UPTD) has completed its merger with Estrella Biopharma, Inc. The combined entity, Estrella Immunopharma, Inc., will trade under new symbols 'ESLA' and 'ESLAW'.
The completion of the merger between UPTD and Estrella Biopharma is a significant event that could potentially impact UPTD's stock price. The new entity, Estrella Immunopharma, will trade under new symbols, which could attract new investors and potentially increase the stock price in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100