BIOPLUS ACQUISITION Stock Price, News & Analysis

BioPlus Acquisition Corp. (NASDAQ: BIOS) is a special purpose acquisition company (SPAC) that was established to facilitate mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations with one or more businesses. Primarily, BioPlus has focused its efforts on identifying promising opportunities within the healthcare industry across the United States, Europe, Israel, and Australasia.

On October 4, 2023, BioPlus announced the termination of its previously planned business combination with Avertix Medical, Inc. and other related parties. The agreement to terminate was mutual and included voiding all associated documents. As a result, BioPlus has decided to liquidate and dissolve as per the guidelines in its Amended and Restated Memorandum and Articles of Association.

In light of the liquidation, BioPlus intends to return funds to holders of its Class A ordinary shares at an estimated redemption price of approximately $10.79 per share. The process involves record holders delivering their Public Shares to Continental Stock Transfer & Trust Company, which serves as the Company’s transfer agent. Beneficial owners holding shares in 'street name' need not take any action to receive their redemption amount. The redemption is expected to be completed within ten business days after October 4, 2023.

Notably, there will be no redemption rights or liquidating distributions for the Company’s warrants, which are set to expire worthless. The company's sponsor has also waived its redemption rights related to Class B ordinary shares issued prior to the IPO, as well as Class A ordinary shares contained in units issued in a private placement concurrently with the IPO.

For those looking to keep track of the company’s latest developments, BioPlus provides updates and further information via its official communication channels. Investors and stakeholders are advised to stay informed about the company's activities, especially those pertaining to its liquidation process.