Phoenix Biotech SPAC to merge with Intrinsic Medicine in all-stock deal

CERO THERAPEUTICS HOLDINGS, INC.

Consideration: 13.6M shares of Class A common stock to Intrinsic equity holders.
Intrinsic is a preclinical-stage therapeutics company using synthetic biology to develop human milk oligosaccharide medicines.
Closing requires at least $15M available cash (trust + PIPE), Nasdaq listing, and stockholder approvals.
Sponsor and key Intrinsic stockholders agree to vote in favor; lock-up 180 days or $12.50 price trigger.
Post-combination company to be led by executives Martinez, Ferrone, Chuang, and Crawford.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

CERO THERAPEUTICS HOLDINGS, INC. entered into Business Combination Agreement with OM Merger Sub, Inc., Intrinsic Medicine, Inc. (effective 2022-10-30).

Action: entry
Agreement: merger
Counterparty: OM Merger Sub, Inc., Intrinsic Medicine, Inc.
Effective: 2022-10-30

Exact text from the filing

On October 30, 2022, Phoenix Biotech Acquisition Corp., a Delaware corporation (the “ Company ”), entered into a business combination agreement (the “ Business Combination Agreement ”) by and among the Company, OM Merger Sub, Inc., a Delaware corporation (“ Merger Sub ”), and Intrinsic Medicine, Inc., a Delaware corporation (“ Intrinsic ”).

View on SEC.gov

273 material agreements filed in the last 30 days. Browse all material agreements →

CERO THERAPEUTICS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001193125-22-273358

view filing index on sec.gov

view primary document

Machine-readable: JSON · Markdown · Plain text

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.