secwatch.observer — SEC 8-K summary
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Issuer:     OmniAb, Inc. (OABI)
CIK:        0001846253
Form:       8-K
Filed at:   2022-03-24T23:59:59+00:00
Accession:  0001104659-22-037314
Event type: m_and_a
Sentiment:  neutral
Materiality: 0.90
Item codes: 1.01, 3.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Avista SPAC to combine with OmniAb (Ligand antibody business) at $850M pre-money value
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- OmniAb valued at $850M pre-money; earnout of up to 15M shares with $12.50/$15.00 VWAP targets.
- Sponsor to purchase $15M in APAC common + warrants via Forward Purchase, backstop up to $100M for redemptions.
- Transaction includes Distribution of OmniAb stock to Ligand shareholders immediately prior to Merger.
- Post-closing APAC will redomicile to Delaware and list on Nasdaq under 'OABI' (warrants 'OABIW').
- Conditions include HSR clearance, APAC shareholder approval, Nasdaq listing, and net tangible assets ≥$5M.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1846253/000110465922037314/0001104659-22-037314-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1846253/000110465922037314/tm2210239d3_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-037314

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer