BofA update shows where active managers are putting money
ZURICH - VERAXA Biotech AG, a developer of antibody-based cancer therapies, announced Thursday it has filed a registration statement on Form F-4 with the U.S. Securities and Exchange Commission regarding its proposed business combination with Voyager Acquisition Corp. (NASDAQ:VACH). According to InvestingPro data, Voyager currently trades near its 52-week low of $9.95, with a market capitalization of $329.22 million.
The filing marks a significant step toward VERAXA becoming a publicly traded company on the NASDAQ exchange. According to the registration statement, VERAXA’s equity value contribution to the business combination will be approximately $1.3 billion. InvestingPro analysis indicates Voyager maintains strong liquidity with a current ratio of 5.81, suggesting robust financial positioning for the merger. Get access to 6 more exclusive ProTips and comprehensive financial metrics with InvestingPro.
Under the terms of the agreement announced on April 23, VERAXA shareholders will receive approximately 130 million ordinary shares of the combined company in exchange for their existing shares. Existing VERAXA shareholders and management will roll over 100% of their equity into the combined entity.
Assuming a share price of $10.00 and no redemptions by Voyager’s public shareholders, the combined company is expected to have an implied pro forma equity value of approximately $1.64 billion at closing.
"The filing of our Registration Statement marks a significant step forward in our path to accessing the public capital markets," said Christoph Antz, CEO and Co-Founder of VERAXA, in a press release statement.
Upon closing, VERAXA anticipates access to approximately up to $253 million in cash held in trust by Voyager, prior to transaction costs and assuming no redemptions by Voyager’s public shareholders.
The boards of directors of both companies have unanimously approved the business combination, which is expected to close in the fourth quarter of 2025, subject to shareholder approvals and other customary closing conditions.
VERAXA, founded on scientific breakthroughs from the European Molecular Biology Laboratory, focuses on developing antibody-based therapeutics including bispecific ADCs and T cell engagers. Based on InvestingPro’s Fair Value analysis, Voyager currently appears slightly overvalued, trading at a P/E ratio of 34.94. Discover more detailed valuation metrics and expert insights with an InvestingPro subscription.
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