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2022-01-31 22:30
09:25 AM EST, 01/31/2022 (MT Newswires) -- Blank-check company OTR Acquisition Corp (OTRA) will merge with Comera Life Sciences in a transaction that will take the life sciences public, the firms said Monday.
The companies said the combination will accelerate Comera's development of its internal portfolio of subcutaneous therapeutics.
The combined company will operate under the Comera management team, the firms added.
The combined company is expected to have an initial pro forma equity value of about $258.4 million, which translates into an enterprise value of approximately $151.3 million. The business combination will provide around $107 million in gross proceeds from the cash held in trust by OTR, they said.
The business combination is expected to be completed in Q2 2022, the companies said.
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