Filament Health Corp (NEO:FH, OTCQB:FLHLF) told investors that it has reached a significant milestone after the US Securities and Exchange Commission (SEC) gave the green light to its business combination with Jupiter Acquisition Corporation, a special purpose acquisition company, and Topco, as it prepares to uplist to Nasdaq.
The company said it has also filed a definitive proxy statement with the SEC for its special meeting of stockholders to, among other things, approve the business combination, which values Filament at roughly US$176 million.
“We believe the business combination will amplify our operational and capital market footprint through the envisioned US listing of the combined company,” Filament CEO and chairman Benjamin Lightburn said in a statement.
“We are one important step closer to completing the business combination, which we believe will support our mission to improve access to standardized, naturally derived psychedelic medicines as swiftly as possible.”
Jupiter CEO and chairman James Hauslein commented: “The declaration of the effectiveness of the registration statement by the SEC and filing of our definitive proxy statement is a significant step towards the successful completion of the business combination.
“We believe this regulatory milestone is the product of our careful selection of a partner aligned with our corporate vision and will set the stage for a successful merger, which we expect will lay the groundwork for sustained success in the long term.”
Filament Health is a clinical-stage natural psychedelic drug development company.
Jupiter is a blank check company formed to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.