SPAC Altitude scraps Picard deal, to merge with Vesicor instead (NASDAQ:ALTU)

Altitude Acquisition Corp. (NASDAQ:ALTU) mentioned in a submitting that it has terminated its deliberate merger with Picard Medical and can as an alternative merge with Vesicor Therapeutics.

The SPAC disclosed in an SEC submitting that it and Picard mutually terminated their deliberate merger on Feb. 23. It added that it entered into a brand new merger settlement with Vesicor on Feb. 29.

On Feb. 7, Altitude’s board prolonged the SPAC’s deadline for consummating an preliminary enterprise mixture from Feb. 11 to March 11.

In keeping with its web site, Vesicor is an early-stage biopharmaceutical firm centered on the event of microvesicle-based therapeutics.