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BRIEF-Varian Biopharmaceuticals, Inc To Become Publicly Traded Through A Merger With Spk Acquisition Corp.

reuters ·  Feb 14, 2022 09:40

Feb 14 (Reuters) - SPK Acquisition Corp SPK.O :

* VARIAN BIOPHARMACEUTICALS, INC., A PRECISION ONCOLOGY COMPANY, TO BECOME PUBLICLY TRADED THROUGH A MERGER WITH SPK ACQUISITION CORP.

* SPK ACQUISITION CORP - COMBINED COMPANY EXPECTED TO HAVE A POST-TRANSACTION PRO FORMA EQUITY VALUE OF APPROXIMATELY $116 MILLION

* SPK ACQUISITION CORP - MERGER EXPECTED TO CLOSE IN Q2 2022, AND COMBINED COMPANY WILL BE LISTED ON NASDAQ UNDER PROPOSED TICKER SYMBOL "VBIO"

* SPK ACQUISITION CORP - CASH PROCEEDS FROM TRANSACTIONS ARE EXPECTED TO FUND MANUFACTURING, PRE-CLINICAL AND IND-ENABLING TOXICOLOGY STUDIES

* SPK ACQUISITION CORP - COMPANY WILL BE LED BY EXISTING MANAGEMENT FROM VARIAN BIO, INCLUDING CEO JEFFREY B. DAVIS AND CMO DR. JONATHAN LEWIS

Source text for Eikon: ID:nGNX1KpM4Y Further company coverage: SPK.O

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