Anew Medical Inc (OTCMKTS:LEAS) Stock Rockets After Merger News

Early stage biotech company Anew Medical Inc (OTCMKTS:LEAS) is intent on the development of disruptive new therapies that could help in the treatment of new age neurodegenerative diseases.

Trading Data

On Tuesday, LEAS stock up 0.7463% to $0.0027 with more than 6.98 million shares, compared to its average volume of 3.93 million shares. The stock moved within a range of $0.0022 – 0.0029 after opening trade at $0.0029.

Anew Medical (OTC: LEAS) and Redwoods Acquisition Corp. (NASDAQ: RWOD) Entered into a Definitive Merger Agreement

The company noted yesterday that previously it had gone into a definitive business transaction agreement with the publicly traded special purpose acquisition company Redwoods Acquisition Corp. Anew Medica is currently listed on the OTC Markets and trades under the ticker symbol LEAS. Yesterday, the company provided a closer look into the particulars of the business transaction that it was getting into with Redwoods Acquisition Corp. It could be a good idea to take a closer look into it.

The enterprise value of the combined firm at a pro forma basis is going to be a maximum of $94 million, out of which as much as a maximum of $54 million is held in the form of cash in the trust account of Redwoods shareholders. The values quoted yesterday also included a maximum of 5 million addition earn out shares that would be issued to the shareholders of Anew Medical if some of the performance related milestones are actually met. It remains to be seen if the Anew stock receives any attention from investors today.