Aesther Healthcare Acquisition Corp.
AEHAU
NASDAQ Global Market9.80
USD
-0.65
- -
CIK
0001869974
ISIN
US00809L2051
CUSIP
00809L205
Return %
Stock
S&P500
1Y
- -
26.53
3Y
-2.49
76.60
5Y
-2.58
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Surendra K. Ajjarapu
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 515 Madison Avenue New York City NY United States of America 10022
- IPO Date
- Sep 15, 2021
- CIK
- 0001869974
- Similar Companies
- Business
- Aesther Healthcare Acquisition Corp. (AEHAU) is a blank check company, or special purpose acquisition company (SPAC), formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses primarily in the pharmaceutical and medical devices sectors; it does not have significant operations of its own other than pursuing such a transaction. Incorporated in 2021 and headquartered at 515 Madison Avenue, Suite 8078, New York, New York, the company raised approximately $100 million in its initial public offering in 2021 by offering units comprising shares of Class A common stock and warrants. In its most significant development, Aesther completed a reverse merger with Ocean Biomedical, Inc. on February 14, 2023, pursuant to which Ocean Biomedical became a wholly owned subsidiary, Aesther changed its name to Ocean Biomedical, Inc., and its common stock and warrants began trading on Nasdaq under the symbols OCEA and OCEAW, respectively; the pro forma enterprise value of the combined entity was approximately $345 million prior to substantial shareholder redemptions, with the transaction supported by backstop agreements totaling up to $80 million from Vellar Opportunity Fund SPV LLC - Series 3 and Meteora entities, as well as a $75 million common stock purchase agreement with White Lion Capital. Ocean Biomedical, now the operating entity, focuses on next-generation biopharmaceutical therapies targeting oncology, fibrosis, and infectious diseases including non-small cell lung cancer, glioblastoma, pulmonary fibrosis, and malaria, leveraging a proprietary discovery platform validated by over $123.9 million in grants and sponsored research at institutions such as Brown University. The SPAC's geographic operations were centered in the United States, with post-merger activities led from Providence, Rhode Island.