Once the proposed transaction closes, SAB would be listed on the Nasdaq with a post-merger value of approximately $325 million, or $10.10 per share, and it’s expected to provide the combined company with about $118 million of pro forma cash to fuel development and commercialization of its DiversitAb platform, which leverages cattle to produce fully human polyclonal antibody therapeutics for a wide range of immune system disorders, cancer and infectious diseases without the need for human donors. “It’s a very good way for us to enter the public arena.” “What this means is headquarters stays in Sioux Falls, and we continue to control the company and of course our management team stays in place,” co-founder and SAB CEO Eddie Sullivan said. is a “blank check company,” meaning it is a special purpose acquisition company designed to help a private company trade publicly without it actually doing an initial public offering. Sioux Falls-based SAB Biotherapeutics plans to merge with a Miami-based firm, which will allow it to be traded on the Nasdaq stock exchange.īig Cypress Acquisition Corp.
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