• 44
  • 6
  • Favorite

Gelesis, Maker Of Weight Loss Pill, Concludes SPAC Deal; Trading Kickstarts Today

Benzinga2022-01-14

PureTech Health plc founded entity Gelesis Inc, maker of weight management aid, has completed its business combination with Capstar Special Purpose Acquisition Corp.

  • The publicly-traded company will be Gelesis Holdings Inc and will begin trading on the New York Stock Exchange under the ticker symbol "GLS" from today.
  • Both Gelesis and Capstar shareholders voted to approve the business combination. The transaction generated approximately $105 million in gross proceeds, which will be mainly used to support the broad launch of Plenity.
  • "We are pleased with the completion of this transaction, which now makes Gelesis the third publicly-traded Founded Entity for PureTech," said Eric Elenko, Chief Innovation and Strategy Officer at PureTech. "
  • Plenity is FDA-cleared to aid in weight management in adults with excess weight or obesity, as defined by a Body Mass Index of 25 to 40 kg/m² when used in conjunction with diet and exercise.
  • Plenity is designed to help people feel satisfied with smaller meal portions to eat less and lose weight.
  • It is taken orally as three capsules with 16 ounces of water twice a day, 20 minutes before lunch and dinner.
  • A Plenity subscription costs $98 for a four-week supply ($1.75 per meal).
  • Price Action: CPSR shares closed higher by 9.85% at $7.36 on Thursday.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Report

Comment6

  • Jrrr92
    ·2022-01-14
    Ok
    Reply
    Report
  • CHIDHU007
    ·2022-01-14
    Given a 10% chance of a 100 times payoff, you should take that bet every time."
    Reply
    Report
  • Jess321
    ·2022-01-14
    Like
    Reply
    Report
  • Kiattt
    ·2022-01-14
    Like
    Reply
    Report
  • zingerbells
    ·2022-01-14
    Like 
    Reply
    Report
  • Xann
    ·2022-01-14
    Like pls
    Reply
    Report
 
 
 
 

Most Discussed

 
 
 
 
 

7x24

 
 
 
 
 
 
 
 
 
 
 
 
 
 
 

Company: TTMF Limited. Tech supported by Xiangshang Yixin.

Email:uservice@ttm.financial