SPAC ex­tends dead­line to merge — again; Flag­ship's Evelo bor­rows $45M to re­fi­nance debt

A SPAC deal an­nounced in Au­gust may need a bit more time to dot all the i’s and cross all the t’s.

Ocean Bio­med­ical and its blank check part­ner, Aes­ther Health­care Ac­qui­si­tion Corp., ex­tend­ed the dead­line to wrap their merg­er talks by three months, they said Fri­day. The two en­ti­ties will now have un­til March 16, 2023, to merge and bring Ocean to Nas­daq.

This is the sec­ond time Aes­ther and Ocean have ex­tend­ed their merg­er dead­line, and it’s the last time they’ll be able to do so. Should they be un­able to fin­ish their dis­cus­sions and put to­geth­er the req­ui­site raise, the SPAC will have to re­turn its mon­ey to in­vestors.

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