OmniAb Announces Completion of Spin-Off and Business Combination
OmniAb, Inc. (NASDAQ: OABI) today announced the completion of the expected tax-free spin-off from Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) and the subsequent business combination with Avista Public Acquisition Corp. II (NASDAQ: AHPA), resulting in OmniAb becoming an independent publicly traded company. Based on actual redemptions and estimated transaction expenses, OmniAb expects to have approximately $95 million in cash at closing. OmniAb will begin regular-way trading November 2, 2022 on Nasdaq under the stock ticker symbol “OABI
EMERYVILLE, Calif.--(BUSINESS WIRE)--Nov 1, 2022--
OmniAb, Inc. (NASDAQ: OABI) today announced the completion of the expected tax-free spin-off from Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) and the subsequent business combination with Avista Public Acquisition Corp. II (NASDAQ: AHPA), resulting in OmniAb becoming an independent publicly traded company. Based on actual redemptions and estimated transaction expenses, OmniAb expects to have approximately $95 million in cash at closing. OmniAb will begin regular-way trading November 2, 2022 on Nasdaq under the stock ticker symbol “OABI.”
“The OmniAb discovery platform is the culmination of several years of scientific discoveries and innovations brought together and advanced by a dedicated team of talented scientists,” said Matt Foehr, Chief Executive Officer. “As an independent publicly traded company, OmniAb will continue to discover and innovate as we focus on our mission to push the frontiers of drug discovery technologies and enable our partners’ rapid development of innovative therapeutics.”
OmniAb Management Update
