On August 11, Swiftmerge Acquisition Corp., a West Vancouver-based special purpose acquisition company, announced that it was taking HDL Therapeutics Inc. public through a merger.
HDL Therapeutics is a biotech innovator, focused on developing first-in-class treatments for intractable cardiovascular and neurovascular diseases using the company’s proprietary technology platform.
The holders of the outstanding HDL Therapeutics preferred stock and common stock will receive a combination of cash and equity in Swiftmerge totaling $400 million. The business combination values the combined company at approximately $480 million.
Upon closing of the merger, Swiftmerge will change its name to HDL Therapeutics, Inc and the combined company will trade on the NASDAQ with the ticker symbol “HDLT”.
Mayer Brown LLP is serving as legal advisor to HDL Therapeutics. Loeb & Loeb LLP is serving as legal advisor to Swiftmerge.
According to data captured in the LevinPro HC database, this is the 97th transaction in the Biotechnology sector in 2023.
