SPAC Forbion European to merge with Canadian biotech enGene

SPAC Forbion European Acquisition Corp. (NASDAQ:FRBN) has agreed to merge with Canadian biotech enGene, a developer of non-viral gene therapies.

Financing for the deal is expected to include $20M in FRBN Class A stock plus investment commitments of $115M anchored by FRBN's sponsor, Forbion Growth. The deal is slated to close during the second half of the year, according to an SEC filing.

Shares of the combined company are expected to trade on Nasdaq.

FRBN held its initial public offering in December 2021, raising gross proceeds of $130M.