By Ben Glickman
Shares of TradeUP Acquisition Corp. rose Friday after the company completed a business combination with Estrella Biopharma.
The stock was up 11% to $11.05 in midday trading. Shares have risen 7.1% this year.
The special-purpose acquisition company said Friday that it had completed a previously-announced merger with Estrella, a company developing therapies to treat blood cancers and solid tumors.
The combined company, which is now known as Estrella Immunopharma, will begin trading on the Nasdaq under the ticker ESLA starting Oct. 2.
TradeUP completed a private placement of shares with proceeds of $10 million directly before the merger closed, and Estrella closed its Series A preferred stock financings with proceeds of $9.75 million.
Write to Ben Glickman at ben.glickman@wsj.com
(END) Dow Jones Newswires
September 29, 2023 12:25 ET (16:25 GMT)
Copyright (c) 2023 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。