BALA CYNWYD, Pa., March 23, 2022 (GLOBE NEWSWIRE) -- Brodsky & Smith reminds investors of the following investigations. If you own shares and wish to discuss the investigation, contact Jason Brodsky ([email protected]) or Marc Ackerman ([email protected]) at 855-576-4847. There is no cost or financial obligation to you.
Mount Rainier Acquisition Corp. (Nasdaq - RNER)
Under the terms of the agreement, Mount Rainier, a special purpose acquisition company, will combine with HUB Cyber Security (Israel) Limited (TASE:HUB.TA), a Tel-Aviv based developer of Confidential Computing cybersecurity solutions and services (“HUB”), and result in HUB becoming a publicly traded company. Mount Rainier shareholders will retain ownership of only less than 18.7% of the combined company. The investigation concerns whether the Mount Rainier Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/mount-rainier-acquisition-corp-nasdaq-rner/.
Brookline Capital Acquisition Corp. (Nasdaq - BCAC)
Under the terms of the agreement, Brookline Capital, a special purpose acquisition company, will combine with Apexigen, Inc., a clinical-stage biopharmaceutical company focused on discovering and developing a new generation of antibody therapeutics for oncology, and result in Apexigen, Inc. becoming a publicly traded company. Brookline Capital shareholders will retain ownership of approximately 5.15% of the combined company. The investigation concerns whether the Brookline Capital Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/brookline-capital-acquisition-corp-nasdaq-bcac/.
Vickers Vantage Corp. I (Nasdaq - VCKA)
Under the terms of the agreement, VCKA, a special purpose acquisition company, will combine with Scilex Holding Company (“Scilex”), a majority-owned subsidiary of Sorrento Therapeutics, Inc. (Nasdaq - SRNE), a commercial biopharmaceutical company focused on developing and commercializing non-opioid therapies for patients with acute and chronic pain, and result in Scilex becoming a publicly traded company. VCKA shareholders will retain ownership of approximately 12% of the combined company. The investigation concerns whether the VCKA Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/vickers-vantage-corp-nasdaq-vcka/.
Pono Capital Corp (Nasdaq - PONO)
Under the terms of the agreement, PONO, a special purpose acquisition company, will combine with Benuvia, Inc. (“Benuvia”), a drug developer and manufacturer of active pharmaceutical ingredients focused on cannabinoids, with a growing portfolio of drug products and intellectual property, and result in Benuvia becoming a publicly traded company. PONO shareholders ownership of the combined company will be diluted. The investigation concerns whether the PONO Board breached its fiduciary duties to shareholders by failing to conduct a fair process, including the dilution of ownership interest in the combined company.
Additional information can be found at https://www.brodskysmith.com/cases/pono-capital-corp-nasdaq-pono/.
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