Proposed Nasdaq listing to accelerate Brains’ pharmaceutical API manufacturing, drug development, regulatory science and commercialization strategy
Brains combines established European pharmaceutical manufacturing infrastructure with a diversified portfolio of proprietary and partnered drug-development programs
Transaction positions Brains to pursue growth across pharmaceutical API supply, naturally derived medicines, specialty therapeutics and additional life sciences applications
Transaction values Brains Bioceutical at an implied pre-money equity value of approximately $750.0 million
Armada Acquisition Corp. III (NASDAQ:AACI) ("Armada III"), a publicly traded special purpose acquisition company, and Brains Bioceutical Corp. ("Brains" or the "Company"), an integrated life sciences and pharmaceutical company specializing in active pharmaceutical ingredient ("API") manufacturing and supply, pharmaceutical research and drug development, today announced that they have entered into a definitive business combination agreement.
The proposed business combination (the "Business Combination") represents a significant milestone in Brains’ evolution and is intended to establish the Company as a publicly traded cannabinoid life sciences enterprise positioned to pursue opportunities across pharmaceutical manufacturing, naturally derived medicines and proprietary drug development.
Upon completion of the proposed transaction, the combined company is expected to operate as Brains Therapeutics Corp. ("PubCo") and its common shares are expected to trade on the Nasdaq under the ticker symbol "BAPI".