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ROSS Acquisition Corp II (NYSE: ROSS,WS) has entered into a definitive agreement to merge with APRINOIA Therapeutics, a clinical-stage biotech focused on neurodegenerative diseases. The transaction is valued at $280 million, with funding aimed at advancing APRINOIA's therapeutic programs, including its lead product, APN-1607. The merger, expected to close in the first half of 2023, will create a publicly traded entity on Nasdaq or NYSE. APRINOIA holds agreements with major biotech firms such as Biogen, and anticipates significant market opportunities in treating Alzheimer’s Disease, which affects an estimated 10 million individuals in China alone.
On May 27, 2021, Ross Acquisition Corp II (NYSE: ROSS) announced it regained compliance with NYSE regulations after filing its Form 10-Q for the quarter ended March 31, 2021. This filing came after receiving a notice from the NYSE on May 25, 2021, indicating non-compliance due to a delayed filing. The NYSE gave the company six months to rectify the issue. The compliance reinstatement means the listing of ROSS on the NYSE remains unaffected.