Amanat Acquisition Corp. Form 8-K — Oct 26, 2026
Amanat Acquisition Corp (Nasdaq: AMAN) has signed a definitive Business Combination Agreement dated October 25, 2026 to merge with Corxel Pharmaceuticals, a clinical-stage biopharmaceutical company developing oral small molecule candidates including CX11 (GLP-1 RA) and CX12 (amylin RA), at an implied Corxel equity value of $200,000,000. The transaction is backed by a $300 million PIPE financing from institutional investors, with closing conditions requiring at least $200 million of aggregate proceeds from the trust account (post-redemptions), the PIPE, and company cash.
Key figures
- Deal Value Usd
- 200000000
- Gross Proceeds
- 300000000
- Lockup period
- six months after the Closing Date
- Expected closing
- first half of 2027
- Min cash condition
- $200,000,000 aggregate transaction proceeds (trust after redemptions + PIPE + up to $75M company cash)
- Pipe financing amount
- $300 million aggregate purchase commitments
- Min net tangible assets
- $5,000,001
- Min trust for board seat
- $25,000,000
- Regulatory termination fee
- up to $3,000,000
- Implied corxel equity value
- $200,000,000
- Superior offer termination fee
- $10,000,000 (greater of $10M and 1% of upfront consideration, capped at $50,000,000)
- Adverse recommendation termination fee
- $10,000,000
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