CNLM Profile
CB Pharma Acquisition Corp. (CNLM) is a special purpose acquisition company (SPAC) that was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company's focus is on the pharmaceutical and biotechnology sectors, specifically on companies that are developing innovative therapies to address significant unmet medical needs.
CNLM was founded in 2020 and is based in New York, New York. The company raised $50 million in its initial public offering (IPO) in December 2020, selling 5 million units at a price of $10 per unit. Each unit consisted of one share of common stock and one-half of one redeemable warrant, with each whole warrant entitling the holder to purchase one share of common stock at a price of $11.50 per share.
CNLM is listed on the NASDAQ stock exchange and trades under the ticker symbol CNLM. As of my knowledge cutoff date of September 2021, the company had not yet announced a specific merger target. If CNLM is unable to complete a business combination within a certain timeframe, the company will be required to dissolve and distribute its assets to shareholders.
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