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BOSTON - Helix Acquisition Corp. II (NASDAQ:HLXB), currently trading at $10.66 with a market capitalization of $251 million, announced Friday that shareholders will vote on its proposed business combination with TheRas, Inc. (d/b/a BridgeBio Oncology Therapeutics) at an extraordinary general meeting scheduled for August 4, 2025. InvestingPro data shows the stock trading near its 52-week low, with several key metrics suggesting careful consideration for investors.
The U.S. Securities and Exchange Commission has declared effective the registration statement on Form S-4 related to the previously announced merger. Proxy materials will be mailed to Helix shareholders of record as of June 30, 2025.
The parties anticipate closing the transaction in August 2025, subject to shareholder approval and other closing conditions, according to the press release statement.
BridgeBio Oncology Therapeutics is a clinical-stage biopharmaceutical company developing small molecule therapeutics targeting RAS and PI3Kα malignancies. The company was initially formed as a subsidiary of BridgeBio Pharma, Inc. (NASDAQ:BBIO).
Helix Acquisition Corp. II is a special purpose acquisition company that raised $184 million in its initial public offering on February 9, 2024. The SPAC is sponsored by affiliates of Cormorant Asset Management.
Upon completion of the transaction, the combined company will be renamed BridgeBio Oncology Therapeutics. The merger comes at a time when HLXB’s Financial Health Score stands at 1.68, rated as ’Weak’ by InvestingPro analysts.
The business combination agreement was originally entered into on February 28, 2025, and was amended on June 17, 2025. The definitive proxy statement/prospectus contains important information regarding the proposed business combination and is available on the SEC’s website.
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