Medicus Pharma Subsidiary SkinJect Enters Non-Binding LOI for $135 Million SPAC Merger
Medicus Pharma (MDCX) announced that its wholly owned subsidiary, SkinJect, has entered into a non-binding letter of intent (LOI) with an undisclosed Special Purpose Acquisition Company (SPAC). The proposed business combination aims to value SkinJect at $135 million prior to any additional financing. The deal includes provisions for raising further equity to support the company's growth. While the SPAC partner remains unnamed, the announcement has triggered positive movement in Medicus Pharma's stock as investors react to the potential liquidity event and valuation of its subsidiary.