Jaguar Health (NASDAQ:JAGX) stock is on the rise Thursday after announcing a meeting concerning an upcoming special purpose acquisition company (SPAC) merger.
The meeting will go over plans for Napo EU, a company expected to become a subsidiary of Jaguar Health in Italy, to merge with a SPAC. The meeting will be presented by SPAC sponsor Andreea Porcelli and Jaguar Health president and CEO Lisa Conte.
Porcelli said this about the news boosting JAGX stock today.
“AIM Italia has been chosen as the potential exchange on which to list the SPAC because the Professional Segment of AIM Italia, which is addressed to professional investors, allows SPACs to publicly state the name of their target companies at the time of listing. Napo EU and the Post Pandemic Recovery Equity SPAC are pursuing a ‘Direct Business Combination’, which is allowed on the Professional Segment of AIM Italia, hence making the listing of the proposed SPAC and merger concurrent.”
The meeting going over the SPAC merger plan will take place at 8:30 a.m. Eastern Time on the upcoming Wednesday. Investors can follow this link if they want to register to attend the meeting.
Jaguar Health is considering the combination as it seeks to study the effects of its treatments on survivors of the novel coronavirus still suffering negative effects from the illness. The current theory is that some people continue to suffer after the virus has run its course due to their bodies continuing to overact even after the infection is gone.
JAGX stock was up 12% as of Thursday morning.
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.