(Boursier.com) — eureKING the first European Special Purpose Acquisition Company (SPAC) in the health sector, dedicated to bioproduction, announces that the Social and Economic Committee of Skyepharma, after consultation, has issued a favorable opinion on the proposed acquisition of Skyepharma.
The shareholders of eureKING are convened on August 11 in order to decide on the proposed amendments to the articles of association necessary for the completion of the operation, namely the extension of the deadline for completion of the Initial Business Combination of the SPAC to 31 October 2023, and the lifting of the target minimum size condition.
Subject to the approval of these statutory amendments, the contemplated transaction will constitute the ‘Initial Business Combination’ of eureKING. In addition, subject to this same reservation, a redemption period will be opened as soon as possible, and no later than August 21, 2023, whereby eureKING will then offer an option to redeem the Market Shares at the agreed price of 10.30 euros which will be independent of whether or not the acquisition of Skyepharma is completed.
It is specified that the fair market value of Skyepharma is estimated at approximately 50 million euros.
©2023 Boursier.com