Welcome to our dedicated page for Helix Acqsn II news (Ticker: HLXB), a resource for investors and traders seeking the latest updates and insights on Helix Acqsn II stock.
Helix Acquisition Corp. II (HLXB) generated news primarily as a healthcare-focused special purpose acquisition company and, later, through its business combination with BridgeBio Oncology Therapeutics. Early coverage centered on its initial public offering on Nasdaq, the placement of IPO and private placement proceeds into a trust account, and its stated intention to pursue a business combination in healthcare or healthcare-related industries.
Subsequent news shifted to transaction milestones with TheRas, Inc. (d/b/a BridgeBio Oncology Therapeutics). Joint announcements detailed the signing of a definitive business combination agreement, the planned renaming of the combined company to BridgeBio Oncology Therapeutics, and the expectation that the combined company’s common stock would trade on Nasdaq under the symbol BBOT. Additional releases and Form 8-K filings reported the effectiveness of the Form S-4 registration statement with the SEC and the scheduling and outcome of Helix’s extraordinary general meeting of shareholders to approve the transaction.
Later updates highlighted capital-related developments, including the level of shareholder redemptions from Helix’s trust account and the size of the PIPE financing led by institutional investors. A joint press release and related SEC filing noted that Helix retained more than 60% of the cash in its trust account, resulting in substantial gross proceeds available to the combined company at closing.
For readers following HLXB-related news, this page serves as an archive of the SPAC’s lifecycle, from IPO pricing and listing through the negotiation, approval, and closing of the business combination with BridgeBio Oncology Therapeutics. It provides a consolidated view of official press releases and referenced SEC disclosures tied to the transition from Helix Acquisition Corp. II to the post-combination public company trading under the BBOT symbol.
Helix Acquisition Corp. II (NASDAQ:HLXB) has retained over 60% of its trust account after redemptions related to its business combination with BridgeBio Oncology Therapeutics (BBOT). The transaction is set to raise approximately $382 million in gross proceeds, comprising $120 million from Helix's trust account and $261 million from a PIPE financing.
The PIPE financing was led by Cormorant Asset Management and included notable investors such as ADAR1 Capital Management, Deerfield Management Company, and Wellington Management. This represents the 2nd lowest redemption rate for a biotech de-SPAC transaction since 2022. BBOT is a clinical-stage biopharmaceutical company developing novel small molecule therapeutics for RAS and PI3Kα malignancies.
Helix Acquisition Corp. II (Nasdaq: HLXB) and BridgeBio Oncology Therapeutics (BBOT) announced that their registration statement for their proposed business combination has been declared effective by the SEC. The extraordinary general meeting of Helix shareholders is scheduled for August 4, 2025, with a record date of June 30, 2025.
BBOT is a clinical-stage biopharmaceutical company developing novel small molecule therapeutics targeting RAS and PI3Kα malignancies. The company, originally a subsidiary of BridgeBio Pharma (Nasdaq: BBIO), focuses on improving outcomes for patients with cancers driven by the two most prevalent oncogenes in human tumors. Upon closing, expected in August 2025, the combined company will be renamed "BridgeBio Oncology Therapeutics."
BridgeBio Oncology Therapeutics (BBOT) and Helix Acquisition Corp. II (HLXB) have announced a business combination agreement to create a publicly listed biotechnology company. The transaction, expected to complete in Q3 2025, will provide total proceeds of $450 million, combining HLXB's trust account funds and a $260 million PIPE financing led by Cormorant Asset Management.
The combined entity will focus on developing therapies for RAS and PI3Kα malignancies through three lead programs:
- BBO-8520: A KRASG12C inhibitor in Phase 1 trials for non-small cell lung cancer
- BBO-10203: An oral small molecule in Phase 1 trials for various cancers
- BBO-11818: A pan-KRAS inhibitor expected to begin patient dosing in H1 2025
The combined company is projected to have an implied pro forma equity value of $949 million at closing, assuming a $10.36 share price and no redemptions. BBOT shareholders will roll 100% of their equity into the combined company.
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