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EQRx, a pharmaceutical company focused on providing innovative medicines at lower prices, announced participation in a fireside chat at the Morgan Stanley 19th Annual Global Healthcare Conference. Scheduled for September 10 at 1:15 p.m. ET, executives Alexis Borisy, Melanie Nallicheri, and Jami Rubin will discuss the company's growth plans. EQRx, launched in January 2020, aims to combine with CM Life Sciences III (NASDAQ: CMLTU) to enhance accessibility and market opportunities. The merger is expected to finalize in Q4 2021.
EQRx has appointed Richard Buckley as the new Chief Corporate Affairs Officer, bringing over 20 years of experience in government affairs and corporate communications from the pharmaceutical sector. Previously, he served as VP of Global Corporate Affairs at AstraZeneca. Buckley joins EQRx amid its proposed merger with CM Life Sciences III, aimed at making innovative medicines more affordable. His appointment is expected to bolster EQRx’s efforts in enhancing partnerships and scaling operations during this critical transition.
EQRx and CM Life Sciences III have announced a definitive agreement for a business combination, expected to provide EQRx with up to $1.8 billion in cash proceeds. This deal will boost EQRx's cash to approximately $2.0 billion, aimed at developing innovative medicines at lower prices. With a pipeline of over 10 programs, including promising oncology assets, EQRx plans to enhance drug affordability and expand its partnerships within the healthcare sector. The transaction values EQRx at a pre-transaction enterprise value of $3.65 billion, with completion anticipated in Q4 2021.
CM Life Sciences III Inc. (Nasdaq: CMLTU) announced that holders of its IPO units can commence separate trading of Class A common stock and redeemable warrants from May 28, 2021. The separated shares will trade on Nasdaq as "CMLT" and "CMLTW," respectively, while unsplit units will remain under "CMLTU." Holders must instruct their brokers to separate these units through Continental Stock Transfer & Trust Company. The effective registration statement for these securities was filed on April 6, 2021.
CM Life Sciences III Inc. has successfully completed its initial public offering (IPO) of 55,200,000 units at $10.00 each, which includes an additional 7,200,000 units from the underwriters' over-allotment option. The units commenced trading on Nasdaq under the ticker symbol CMLTU on April 7, 2021. Each unit comprises one share of Class A common stock and one-fifth of a redeemable warrant, with each warrant convertible to one share of Class A stock at $11.50. The Company aims to target business combinations in the fragmented life sciences sector, focusing on tools, synthetic biology, and diagnostics.
CM Life Sciences III Inc. has priced its initial public offering (IPO) of 48,000,000 units at $10.00 each, set to trade on Nasdaq under the ticker symbol CMLTU starting April 7, 2021. Each unit comprises one share of Class A common stock and one-fifth of a redeemable warrant, with the whole warrant exercisable at $11.50. The offering, led by Jefferies LLC and Cowen and Company, is expected to close on April 9, 2021. The company aims to focus on business combinations in the fragmented life sciences sector.