HDL Therapeutics to Go Public in SPAC Deal

By Stephen Nakrosis

Biotech company HDL Therapeutics said it would become a publicly-traded company after it agreed to a definitive merger agreement with Swiftmerge Acquisition, a blank check company.

HDL said it aims to be a leader in treating high-risk plaques in coronary arteries of heart disease patients. The company said its Plasma Delipidation System is an FDA-approved cardiovascular therapy for reducing coronary atheroma in patients with homozygous familial hypercholesterolemia, a rare and life-threatening condition.
The companies said the deal values the combined company at about $480 million. Following the close of the deal, shares of the combined company are expected to trade on the Nasdaq under the symbol HDLT.
The deal is expected to close in the fourth quarter of this year.
Write to Stephen Nakrosis at [email protected]