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SPAC Altitude scraps Picard deal, to merge with Vesicor instead (NASDAQ:ALTU)
Dzmitry Dzemidovich
Altitude Acquisition Corp. (NASDAQ:ALTU) said in a filing that it has terminated its planned merger with Picard Medical and will instead merge with Vesicor Therapeutics.
The SPAC disclosed in an SEC filing that it and Picard mutually terminated their planned merger on Feb. 23. It added that it entered into a new merger agreement with Vesicor on Feb. 29.
On Feb. 7, Altitude’s board extended the SPAC’s deadline for consummating an initial business combination from Feb. 11 to March 11.
According to its website, Vesicor is an early-stage biopharmaceutical company focused on the development of microvesicle-based therapeutics.
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