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Avertix, BIOS Acquisition Agree To Terminate Merger Deal
(RTTNews) - BioPlus Acquisition Corp. (BIOS) announced Wednesday that BIOS, Avertix Medical, Inc. and certain other parties have mutually agreed to terminate their previously announced business combination agreement and plan of reorganization, effective as of October 4, 2023.
BioPlus also intends to liquidate as soon as practicable after October 4, 2023 and to return funds to holders of its Class A ordinary shares that were included in the units issued in the Company's initial public offering.
The Business Combination Agreement was dated as of May 2, 2023. The parties have signed an agreement terminating the Business Combination Agreement on mutually acceptable terms, which also makes void the ancillary documents to the Business Combination Agreement.
BIOS expects to redeem all of its Public Shares for an estimated redemption price of approximately $10.79 per share after the payment of taxes and dissolution expenses. The redemption of the Public Shares is expected to be completed within ten business days after October 4, 2023.
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