NetworkNewsWire Editorial Coverage: The year 2020 has already seen 127 SPAC IPOs, which have collectively raised over $48.5 billion in proceeds — more than the past ten years combined. A special purpose acquisition company (SPAC) is essentially a blank-check company formed to raise capital through an IPO with the sole intent of buying or merging with another operating company. SPACs have evolved to become an expedited and cost-effective way of doing an M&A deal and have been utilized by multiple Wall Street heavyweights. Going public via a SPAC enables a company to get a deal done in weeks instead of months, and the approach is proving to be an especially attractive vehicle for biotech companies by providing ready access to capital and much greater public visibility. A successful biotech SPAC hinges on shrewd management and a target company that offers a strong risk/reward proposition, is focused on unmet medical needs, and has proven scientific and clinical leadership. After evaluating over 50 companies to meet these criteria for success, KBL Merger Corp. IV (NASDAQ: KBLM) entered into a definitive merger agreement with 180 Life Sciences Corp. (180 Profile), which is expected to close within one month. 180 Life Sciences represents a new business model in biotech. The company is founded and run by four world-renowned scientists and entrepreneurs who invested their own money to start the company. Of considerable note: the founders own the majority of the equity in 180 Life Sciences and aren’t selling any in this transaction. Immatics N.V. (NASDAQ: IMTX) received proceeds of around $250 million in a biotech SPAC business combination. Immunovant Inc. (NASDAQ: IMVT), a biopharmaceutical company, went public via a SPAC business merger, and four months later, the company was able to raise $134 million in a new public offering. AdaptHealth Corp. (NASDAQ: AHCO), the third-largest distributor of home medical equipment in the United States, also went public via a SPAC business merger in July and has appreciated 50% since. After raising $1.1 billion, a business combination is expected this month between Churchill Capital Corp III (NYSE: CCXX) and MultiPlan Inc., a market leader in health-care cost-management…
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Additional Information about the 180 Life Sciences Business Combination and Where to Find It
KBL Merger Corp. IV (“KBL”) has filed a registration statement on Form S-4, which includes a preliminary proxy statement/prospectus for KBL’s stockholders, with the Securities and Exchange Commission. KBL’s definitive proxy statement/prospectus will be mailed to KBL’s stockholders that do not opt to receive the document electronically. KBL and 180 Life Sciences urge investors, stockholders and other interested persons to read the preliminary proxy statement/prospectus, as well as other documents that will be filed with the SEC, because these documents will contain important information about the proposed business combination transaction. Such persons can also read KBL’s Annual Report on Form 10-K for the fiscal year ended December 31, 2019, for a description of the security holdings of its officers and directors and their respective interests as security holders in the consummation of the proposed business combination transaction. KBL’s definitive proxy statement/prospectus, which is included in the registration statement, will be mailed to stockholders of KBL as of a record date to be established. KBL’s stockholders will also be able to obtain a copy of such documents, without charge, by directing a request to: KBL Merger Corp. IV, 30 Park Place, Suite 45E, New York, NY 10007; e-mail: [email protected] These documents can also be obtained, without charge, at the SEC’s web site (http://www.sec.gov)
Participants in Solicitation
KBL and its directors and executive officers may be deemed to be participants in the solicitation of proxies for the special meeting of KBL’s stockholders to be held to approve the proposed transactions in connection with the business combination with 180 Life Sciences. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of KBL’s stockholders in connection with the proposed business combination with 180 Life Sciences are set forth in the amended preliminary proxy statement/prospectus included in the registration statement that was filed with the SEC on August 28, 2020. You can find information about KBL’s executive officers and directors in its Annual Report on Form 10-K for the fiscal year ended December 31, 2019, which was filed with the SEC on April 7, 2020. You can obtain free copies of these documents from KBL using the contact information above.
Non-Solicitation
This communication is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the proposed business combination between KBL and 180 Life Sciences and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of KBL and 180 Life Sciences, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.