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Summit Healthcare (SMIH) delivers integrated healthcare solutions through advanced diagnostics, therapeutic innovations, and patient-centered care models. This news hub provides investors and industry stakeholders with timely updates on SMIH’s strategic developments, financial milestones, and operational advancements.
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YS Biopharma has received an additional 180-day extension from Nasdaq to regain compliance with the minimum bid price rule. The company did not meet the $1.00 bid price requirement and now has until October 21, 2024, to demonstrate compliance. Failure to do so may result in delisting.
YS Biopharma, a global biopharmaceutical company, will close its business combination with Summit Healthcare Acquisition Corp (Nasdaq: SMIH) on March 16, 2023. Following this, YS Biopharma's shares and warrants are set to begin trading on Nasdaq under the symbols YS and YSBPW on March 17, 2023. The combination is projected to yield approximately
YS Biopharma, a global biopharmaceutical company, announced the approval of its business combination with Summit Healthcare Acquisition Corp. at a meeting on March 14, 2023. The transaction is expected to close on March 16, 2023, and will result in approximately $36 million of gross proceeds. Following the closure, YS Biopharma's shares and warrants are slated to begin trading on the Nasdaq under the symbols YS and YSBPW on March 17, 2023. YS Biopharma aims to utilize the funds for the clinical development of its PIKA® adjuvanted rabies vaccine and COVID-19 vaccine, enhancing global health initiatives.
Summit Healthcare Acquisition Corp. (SMIH) has set an extraordinary general meeting for shareholders on March 1, 2023, to approve its proposed merger with YS Biopharma. The SEC declared effective a registration statement for the merger on February 7, 2023, with the new entity expected to list on Nasdaq under the ticker YS. YS Biopharma reported RMB400 million in vaccine sales for the first half of 2023, a 48% increase from the prior year. The merger has an implied pre-money enterprise value of $849 million and could provide up to $230 million in cash to YS Biopharma's balance sheet, assuming no redemptions.
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