SPAC Apeiron to merge with stem cell-based product maker GIO World Health

SPAC Apeiron Capital Investment Corp. (OTCPK:APNC) plans to merge with stem cell-based product developer GIO World Health through a deal that pegs the pre-money enterprise value at around $250M.

The deal is expected to close during the second half of 2023, with shares of the combined company trading on either Nasdaq or NYSE.

Based in San Diego, Calif., GIO Health is a developer of stem-cell based therapies and products. The company has been focusing on developing technology to mass produce red blood cells using a bioreactor.

GIO also plans to roll out stem-cell based therapies later this year at its anti-aging clinics, which are based outside the US. The company is also developing a line of stem-cell based skin care products.

Apeiron went public in November 2021, raising $150M.