Abpro announces filing of registration statement on Form S-4 with U.S. SEC

Abpro Corporation (ABP) and Atlantic Coastal Acquisition Corp. II (ACAB), a special purpose acquisition company, announced the filing of a registration statement on Form S-4 with the U.S. Securities and Exchange Commission, SEC, on January 19, 2024, which includes a preliminary proxy statement and prospectus in connection with its proposed business combination. Upon the closing of the proposed business combination, the combined company is expected to be named “Abpro Corporation” and to list its common stock on Nasdaq under the new ticker symbol “ABP”. The proposed business combination sets Abpro’s implied pre-money equity valuation at $500 million. Consistent with the recent signing of the Business Combination Agreement, the Atlantic Coastal and Abpro boards of directors have approved the proposed business combination, which is expected to be completed in the first half of 2024 subject to, among other things, the approval by Atlantic Coastal and Abpro stockholders, and other customary closing conditions. “We are excited to be partnering with Abpro and recognize the potential of the company’s robust drug discovery platform, novel candidates and significant strategic partnerships,” said Shahraab Ahmad, CEO of Atlantic Coastal. “Abpro is supported by an experienced leadership team and board that we believe will lead the company to create significant value for shareholders.”