Chardan Healthcare Acquisition Corp. Announces Merger Agreement with BiomX Ltd.
(CHAC)
Company Research
Source: PR Newswire
NEW YORK and NESS ZIONA, Israel, July 16, 2019 /PRNewswire/ -- Chardan Healthcare Acquisition Corp. (NYSE: CHAC, "CHAC"), a special purpose acquisition company ("SPAC") sponsored by affiliates of Chardan Capital Markets LLC ("Chardan"), announced today that it has entered into a definitive agreement for a business combination with BiomX Ltd. ("BiomX"), a microbiome company developing both natural and engineered phage therapies. Assuming no redemption of CHAC shareholders, the combined company will have an initial market capitalization of approximately $254 million. Upon closing of the transaction, it is expected that CHAC will be renamed BiomX and remain on the NYSE American Stock Exchange, listed under a new ticker symbol.CHAC has entered into a mix of commitments including purchase and sale, backstop, and voting agreements with BiomX and with investors -- including OrbiMed, RTW Investment, Johnson & Johnson Innovation - JJDC, Inc. (JJDC), Takeda Ventures, Inc., Seventure Partners' H
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