China: SPAC merger values YS Bio at US$834m

YS Biopharma, previously YishengBio, a leading human use rabies vaccine manufacturing company in China’s rabies vaccine market, is merging with blank cheque company Summit Healthcare Acquisition Corp. Upon closing, the combined company will become a publicly traded company on the Nasdaq. The transaction values YS Biopharma at pre-money equity value of US$834m. Certain investors are also expected to…