Good Works II Acquisition Corp

NASDAQ:GWII   9:30:01 AM EDT
9.82
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Exchange Changes, Mergers / Acquisitions, Equity Financing / Related

Good Works II Acquisition Corp. Announces Letter Of Intent For A Business Combination With Direct Biologics, LLC

Published: 09/27/2022 12:23 GMT
Good Works II Acquisition Corp (GWII) - Good Works Ii Acquisition Corp.
Announces Letter of Intent for a Business Combination With Direct Biologics, Llc.
Good Works Ii Acquisition Corp - Proposed Transaction Values Direct Biologics at an Enterprise Value of $675 Million.
Good Works Ii - Letter of Intent Provides That, Until November 21, Co and Direct Biologics Will Negotiate Exclusively to Achieve Definitive Agreement.
Good Works Ii Acquisition- Exoflo™, is in Phase 3 Clinical Trial for Treating Moderate-to-severe Acute Respiratory Distress Syndrome.
Good Works Ii Acquisition Corp - in Q4 of 2022 and Q1 of 2023, Company Intends to Initiate Clinical Trials With Exoflo.
Good Works Ii Acquisition Corp - Combined Company is Required to Have at Least $75.0 Million in Net Cash at Closing.
Good Works Ii Acquisition Corp - Cash From Deal is Intended to Be Used to Fund Clinical Trials & Provide Working Capital for Commercializing Exoflo.
Good Works Ii Acquisition Corp - Private Placement Investors Will Own Approximately 11.4% of Combined Company.
Good Works Ii Acquisition Corp - Sponsor of Good Works Ii and Its Public Shareholders Will Own Approximately 26.9% of Combined Company.
Good Works Ii - Proposed Transaction is Expected to Be Completed in First Half of 2023.
Good Works Ii Acquisition - Current Direct Biologics Owners to Become Majority Owners of Merged Co at Closing With About 61.7% Pro Forma Ownership.