Pestalozzi advises Helix Acquisition Corp (HLXA), a Nasdaq-listed SPAC, in its business combination with MoonLake Immunotherapeutics AG
Helix Acquisition Corp ("Helix"), a Nasdaq-listed special purpose acquisition company (SPAC) with ticker symbol "HLXA" and MoonLake Immunotherapeutics AG ("MoonLake"), a Swiss based clinical-stage biotechnology company focused on creating next-level therapies for inflammatory skin and joint diseases agreed on and completed a business combination.
As part of the transaction, MoonLake received access to the combined funds held in Helix's trust account and the proceeds of a PIPE financing. The transaction – pursuing an Up-C structure – allows certain existing MoonLake shareholders to exchange their shares against Helix shares on closing, while other existing MoonLake equity holders are granted the ability to exchange their MoonLake equity into Helix shares.
Closing of the business combination took place on April 5, 2022, whereby Helix Acquisition Crop changed its name to MoonLake Immunotherapeutics ("ML") and as of April 6, 2022, ML's shares trade on the Nasdaq Stock Market under the ticker symbol "MLTX".
Pestalozzi advised Helix with regard to all Swiss law related aspects of the transaction and its implementation.