Mergers & Acquisitions ·
TCGX Acquisition Corp. agrees to merge with TriGemX Bio in $361M deal including $160M PIPE
TCGXTCGX Acquisition Corp.
TCGX Acquisition Corp., a special purpose acquisition company, entered into a definitive business combination agreement with TriGemX Bio, Inc. The transaction involves the domestication of TCGX as a Delaware corporation and its merger with TriGemX, which will survive as a wholly-owned subsidiary before changing its name to TriGemX Bio, Inc. The deal values TriGemX at an agreed pre-money equity value of $361 million. Concurrently, TCGX secured a $160 million private investment in public equity (PIPE) financing, with investors purchasing 16 million shares at $10.00 per share. Total gross proceeds are expected to be approximately $246 million, assuming no redemptions from TCGX shareholders. The combined company expects a post-transaction equity value of roughly $600 million and anticipates closing in the first quarter of 2027, subject to shareholder approvals and customary conditions. TriGemX Bio is a biotechnology company focused on developing elismetrep, a potential first-in-class treatment for migraine.