Instinct Brothers, a Japanese-based regenerative medicine and stem cell technology company, and special purpose acquisition company Relativity Acquisition entered into a merger agreement, the companies said Tuesday.
Under the terms of the agreement, the companies said Relativity will acquire all outstanding shares of Instinct Brothers, and it will become a wholly-owned unit of Relativity.
Upon closing, the combined company will operate as Instinct Bio Technical and plans to list on the Nasdaq exchange under the 'BIOT' ticker.
The merger values the combined entity at about $242 million and is expected to close in Q3, subject to shareholder approval and other customary conditions, the companies said.
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