From TokenPost · · 50s
TriGemX Bio Announces $600M Public Listing
TriGemX Bio to go public with $600 million valuation after business combination with TCGX Acquisition Corp.
In brief
TriGemX Bio to go public with $600 million valuation after business combination with TCGX Acquisition Corp. TriGemX Bio and TCGX Acquisition Corp. agreed to a business combination valued at $600 million, with the combined company expected to trade on Nasdaq as TGEM. Originally reported by TokenPost.
Business Combination Agreement
TriGemX Bio and TCGX Acquisition Corp. announced a definitive business combination agreement on Oct. 19 for a projected $600 million equity value.
Projected Financials
The transaction generates $246 million in gross proceeds before costs, including $86 million from TCGX's trust account and $160 million from private equity at $10 per share.
Next Steps for Migraine Drug
If the deal closes, the company will fund Phase 3 trials for elismetrep, submit a New Drug Application, and prepare for a potential U.S. launch by mid-2027.
The headline
TriGemX Bio and TCGX Acquisition Corp. agreed to a business combination valued at $600 million, with the combined company expected to trade on Nasdaq as TGEM.
