Oculis goes public on NASDAQ
The Spac deal allows shares of the biotechnology company to be traded on the US technology stock exchange.
The listing was made possible by the acquisition by an aerospace company called European Biotech Acquisition Corp (EBAC).
Credit: Chakrapong Worathat/EyeEm/Getty Images
Biotechnology company Oculis has gone public in the United States. Starting Friday, March 3, Oculis shares will be available for trading on the Nasdaq Technology Exchange under the symbol OCS, the company said.
The listing was made possible by the acquisition by an aerospace company called European Biotech Acquisition Corp (EBAC). This acquisition was unanimously approved by the Board of Directors and shareholders of Oculis as well as shareholders of EBAC at an Extraordinary General Meeting on February 28, 2023.
At the time of closing, Oculis reportedly had a pro forma project value of approximately $220 million and more than $117 million in cash before final transaction costs were paid. Oculis will be backed by new and existing institutional investors as part of PIPE’s expanded financing.
Riad Sharif, President of Oculis, talks about an “important milestone” for Oculis and its investors. The company’s board of directors now consists of seven members, six of whom are independent. This is the benchmark for the Nasdaq listing, as they say. Anthony Rosenberg will continue to chair the board. The Board of Directors also consists of Christina Ackermann, Lionel Karnow, Pravin Dougil, Martin Cleegwegt, Geraldine O’Keefe and Chief Executive Officer Riad Sharif.
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