TriGemX Bio Announces TCGX Business Combination With Projected $600 Million Equity Value

TriGemX Bio and TCGX Acquisition Corp. announced a definitive business combination agreement Oct. 19 that would take the migraine drug developer public at a projected $600 million equity value. The combined company is expected to be named TriGemX Bio, Inc. and trade on Nasdaq under the ticker TGEM. The projected equity value assumes that none of TCGX’s public shareholders redeem their shares before closing. Under the same assumption, the proposed transaction is expected to generate about $246 million in gross proceeds before costs.

Source: TokenPost