CUBEBIO Co., Ltd. Entered Into Terms Relating To A Potential Business Combination With Mountain Crest Acquisition Corp. V
Portfolio Pulse from Benzinga Newsdesk
Mountain Crest Acquisition Corp. V (NASDAQ:MCAG), a SPAC, and CUBEBIO, a Korean company with cancer diagnostic technology, announced a non-binding term sheet for a business combination, aiming to take CUBEBIO public on Nasdaq. The pre-transaction equity value of CUBEBIO is set at $620 million, with adjustments pending further due diligence and market conditions. Global Fund LLC is advising CUBEBIO on the transaction. Both companies' leadership expressed optimism about the growth potential and global expansion following the merger.
May 02, 2024 | 1:14 pm
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Mountain Crest Acquisition Corp. V (NASDAQ:MCAG) announced a non-binding term sheet for a business combination with CUBEBIO, aiming to take CUBEBIO public. The deal values CUBEBIO at $620 million, subject to adjustments.
The announcement of a potential merger with CUBEBIO, a company with innovative cancer diagnostic technology, could lead to positive investor sentiment towards MCAG. The valuation of $620 million for CUBEBIO highlights the significant growth potential seen in this merger. However, the impact is considered with moderate confidence due to the non-binding nature of the term sheet and the conditions that the final transaction is subject to further due diligence and market conditions.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100