Maxpro Capital Acquisition Corp. (JMAC) Shareholders Approve Apollomics Deal

Maxpro Capital (NASDAQ:JMAC) announced this afternoon that its shareholders have approved its combination with biopharmaceutical firm Apollomics.

An aggregate of 10,804,097 shares of Maxpro’s common stock were present at yesterday’s special meeting. Holders of 8,024,976 shares of common stock approved the business combination, but the deal faced a bit of pushback with 2,779,121 shares voting against it.

In connection with the transaction, holders of 10,270,060 shares, or 99.228% of Maxpro’s trust, exercised their right to redeem their shares. Following the redemptions, the SPAC is left with 79,940 shares remaining.

The parties have not yet disclosed when the deal will be completed, but the combined company is expected to trade on the Nasdaq under the symbol “APLM” once it closes.

Maxpro Capital announced its $899 million deal with Apollomics in September 2022. The Foster City, California-based company is developing a line of drug candidates to treat rare cancers with clinical processes nearing completion in both the US and Chinese treatment markets.

ADVISORS

• ARC Group Limited is acting as financial advisor to Maxpro.
• EF Hutton is acting as capital market advisor to Maxpro.
• White & Case LLP is acting as legal counsel to Apollomics.
• Nelson Mullins Riley & Scarborough LLP is acting as legal counsel to Maxpro.
• Marshall & Stevens Transaction Advisory Services LLC is acting as the fairness opinion provider to the board of directors of Maxpro.