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The Latest SPAC News and Rumors: May 31, 2023

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The Latest SPAC News and Rumors: May 31, 2023

May 31, 2023 INTEL, SPACs in the News by Marlena Haddad

Below is a daily summary of links to the latest SPAC news and rumors gathered across the web. 

Latest SPAC News: eureKING signs put option for the potential acquisition of Skyepharma and Pear Therapeutics sells for $6M in post-bankruptcy auction 

eureKING, the first European SPAC in healthcare dedicated to biomanufacturing, announces the signature of a put option for the potential acquisition of Skyepharma to build a new European bio-CDMO leader

eureKING (ISIN: FR0014009ON9, Euronext Paris), the first European SPAC in healthcare dedicated to bioproduction, today announced that it has signed, on May 25, 2023, a put option agreement for 100% of the share capital of Oleron Pharma, the 100% holding company of Skyepharma.

Skyepharma is an innovative and fully integrated French CDMO player with 20 years of innovation and development experience in drug development and delivery of oral technologies. This follows eureKING’s announcement on May 16, 2023, that it had submitted a firm offer on the basis of which it has been granted an exclusivity period with a view to acquiring Skyepharma.

Pear sliced into four parts at auction for $6M

A financial freefall left prescription digital therapeutic pioneer Pear Therapeutics Inc. (NASDAQ:PEAR) cut into four pieces following a bankruptcy judge’s approval of the sale of its assets for a total of $6.05 million. Sleep-focused Nox Health Group took the biggest bite, acquiring the FDA-cleared Somryst PDT for $3.9 million. Other buyers included Harvest Bio LLC, Click Therapeutics Inc. and Welt Corp. Ltd. The total generated from the assets was woefully short of the company’s $32 million in debt.
Pear completed its business combination with Thimble Point in November 2021.
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ByMarlena Haddad