Redwoods Acquisition Corp. to acquire ANEW Medical in $60M stock deal with $5M PIPE

Greenland Mines Ltd

Implied ANEW equity value of $60M; ANEW stockholders receive Redwoods common stock.
PIPE investment of at least $5M at $10/share required before closing.
Up to 5M contingent consideration shares based on $12.50, $15, $20 stock price milestones.
Sponsor places 1.375M Founder Shares into escrow with same earnout triggers.
Closing conditions include stockholder votes, Nasdaq listing, and HSR clearance.

item 1.01 item 7.01 item 9.01

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

Greenland Mines Ltd entered into Business Combination Agreement with ANEW MEDICAL, INC. (effective 2023-05-30).

Action: entry
Agreement: merger
Counterparty: ANEW MEDICAL, INC.
Effective: 2023-05-30

Exact text from the filing

On May 30, 2023, Redwoods Acquisition Corp., a Delaware corporation (the “ Company ” or “ Redwoods ”), entered into a business combination agreement (the “ Business Combination Agreement ”) by and among the Company, ANEW MEDICAL SUB, INC., a Wyoming corporation (“ Merger Sub ”), and ANEW MEDICAL, INC., a Wyoming corporation (“ ANEW ”).

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

Greenland Mines Ltd filing history →

Source: SEC EDGAR

accession 0001213900-23-045945

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