TriGemX Bio and TCGX Acquisition Corp. Announce Business Combination Agreement to Create Publicly Listed Company to Develop Elismetrep, A Potential First-in-Class Treatment for Migraine
TCGX Acquisition Corp. signed a definitive business combination agreement with TriGemX Bio, which will take the migraine-drug developer public as TriGemX Bio, Inc. under new ticker TGEM. The deal brings roughly $246 million in gross proceeds -- an $86 million trust balance plus a $160 million PIPE at $10.00/share from healthcare investors including Viking Global, ADAR1, BVF Partners, Samsara BioCapital, and Vianti Capital.
Key figures
- Deal Value Usd
- $246 million (total expected gross proceeds)
- Offering Price
- 10
- New ticker
- TGEM
- Trust account
- approximately $86 million
- Expected close
- Q1 2027
- Pipe financing
- $160 million
- Redemption assumption
- none by TCGX public shareholders
- Post transaction equity value
- approximately $600 million
AI analysis
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