Exhibit 99.1
BROOKLINE CAPITAL ACQUISITION CORP. AND APEXIGEN, INC. ANNOUNCE STOCKHOLDER APPROVAL OF
BUSINESS COMBINATION
Expected Closing Date of July 29, 2022
Combined Company Expected to Begin Trading on Nasdaq Capital Market Under Ticker Symbols “APGN” and “APGNW,” respectively, on August 1, 2022
NEW YORK, NY & PALO ALTO, CA – July 27, 2022 – Brookline Capital Acquisition Corp. (“BCAC”; Nasdaq: BCACU, BCAC, BCACW), a life-science focused Special Purpose Acquisition Company (“SPAC”) affiliated with Brookline Capital Markets, a division of Arcadia Securities, LLC (“Brookline”), announced a proposed business combination with Apexigen, Inc. (“Apexigen”), a clinical-stage biopharmaceutical company focused on discovering and developing a new generation of antibody therapeutics for oncology, today announced that at the Annual Meeting of BCAC’s stockholders (the “Annual Meeting”) held today, BCAC’s stockholders voted to approve the previously announced proposed business combination between BCAC and Apexigen, as well as all other proposals related to the Business Combination.
BCAC plans to file the results of the Annual Meeting, as tabulated by an independent inspector of elections, on Form 8-K with the Securities and Exchange Commission today.
Based on today’s stockholder approval and subject to the satisfaction or waiver of certain other closing conditions as described in BCAC’s definitive proxy statement/prospectus, the Business Combination is expected to be consummated on or about July 29, 2022. Following the consummation of the Business Combination, the combined company will operate as Apexigen, Inc. and its shares of common stock and warrants are expected to trade on the Nasdaq Stock Market LLC beginning on August 1, 2022 under the symbols “APGN” and “APGNW,” respectively.
About BCAC
BCAC is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of entering into a merger, capital stock exchange, asset acquisition, stock purchase reorganization or similar business combination with one or more businesses or entities. While BCAC’s efforts to identify a target business may span many industries, the focus of BCAC’s search is for prospects within the life sciences industry. Founded in 2020 by Brookline Capital Markets, a division of Arcadia Securities, LLC, a boutique investment bank with experience providing capital markets and advisory services to public and private life sciences companies, blank check companies (working with management teams during the IPO process, and later in the course of their initial business combinations) and other emerging growth enterprises, BCAC is led by an affiliated team of life sciences industry experts. For more information, visit www.brooklinecapitalacquisitioncorp.com.
About Apexigen, Inc.
Apexigen, a clinical-stage biopharmaceutical company focused on developing innovative antibody-based therapeutics for the treatment of cancer with a focus on immuno-oncology, announced on March 18, 2022, that it had entered into a business combination agreement with BCAC, pursuant to which Apexigen and BCAC would combine, with the former equityholders of both entities holding equity in the combined public company listed on the Nasdaq Stock Exchange. Apexigen has built a diversified pipeline of wholly owned and partnered assets leveraging its proprietary APXiMAB™ antibody discovery platform. The company’s lead asset, sotigalimab, is a potentially best-in-class and first-in-class CD40 agonist with unique epitope specificity and Fc receptor engagement for optimal therapeutic effect.
