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YishengBio Announces Merger with NASDAQ SPAC Company at $834 Million Value

publication date: Sep 30, 2022

Beijing YishengBio will merge with a SPAC vehicle, Summit Healthcare Acquisition, to list on the NASDAQ Exchange at a pre-money equity value of $834 million. Last year, the company filed to IPO in Hong Kong, but did not complete the transaction. Yisheng develops new generations of vaccines and therapeutic biologics for infectious diseases and cancer. The merger is expected to provide up to $230 million in cash to YishengBio, including $30 million from new investors and up to $200 million currently in Summit's trust account. The company will change its name to YS Biopharma. More details....

Stock Symbol: (NSDQ: SMIH)

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