Big Cypress Acquisition Corp. Stockholders Approve Business Combination with SAB Biotherapeutics
Sets Stage for Public Debut of SAB, Whose Unique Immunotherapy Platform Produces Targeted, High-Potency Fully-Human Polyclonal Antibodies Without the Need for Human Donors
Oct 21, 2021, 07:00 ET
MIAMI, Oct. 21, 2021 /PRNewswire/ -- Big Cypress Acquisition Corp. (NASDAQ: BCYP), (Big Cypress) a publicly-traded special purpose acquisition company focused on innovative biopharmaceutical firms, today announced that its stockholders have approved the proposed business combination (the "Business Combination") with SAB Biotherapeutics, Inc. (SAB), a clinical-stage biopharmaceutical company developing a novel immunotherapy platform producing targeted, high potency, fully-human polyclonal antibody therapeutics and advancing programs in infectious disease and immune system disorders, at a Special Meeting of stockholders held on October 20, 2021 (the "Special Meeting").
Approximately 98.3% of the votes cast at the Special Meeting, representing approximately 78.6% of Big Cypress' outstanding shares of common stock entitled to vote at the Special Meeting, were cast in favor of the proposal to approve the Business Combination. Big Cypress' stockholders also voted in favor of all other proposals presented at the Special Meeting. The formal results of the Special Meeting will be included in a Current Report on Form 8-K to be filed by Big Cypress with the Securities and Exchange Commission (the "SEC").
The Business Combination is expected to close on or about October 22, 2021, subject to the satisfaction or waiver of customary closing conditions.
Upon closing of the Business Combination, the combined company will be named SAB Biotherapeutics, Inc. (the "Combined Company") and its common stock and warrants will be listed on the Nasdaq Stock Market under the ticker symbols "SABS" and "SABSW", respectively. The common stock and warrants of the Combined Company are anticipated to begin trading on or about October 25, 2021. Any outstanding units of Big Cypress, consisting of shares of Big Cypress common stock and warrants to purchase Big Cypress common stock, will automatically separate into the equivalent number of common stock and warrants of the Combined Company upon the consummation of the Business Combination.
"Our initial enthusiasm for the potential of SAB's first-in-class, targeted fully-human polyclonal antibodies to offer novel treatments for a wide range of diseases with significant unmet medical needs has grown as the company has made significant strides and we've worked closely together over the past months," said Samuel Reich, CEO of Big Cypress and future Executive Chairman of the SAB Board of Directors. "I am delighted that Big Cypress shareholders have overwhelmingly ratified the business combination and I look forward to the opportunity to contribute to SAB's future growth."
"We joined forces with Big Cypress because we believed their experienced biopharmaceutical team truly appreciated the differentiation and potential of our unique immunotherapy platform and pipeline programs," said Eddie J. Sullivan, PhD, co-founder, President and CEO of SAB. "Since the merger was announced in June, our team has continued to execute on all fronts. SAB has initiated a Phase 2 clinical trial in seasonal influenza, initiated a Phase 3 adaptive trial for COVID-19, announced new nonclinical data showing that our COVID-19 candidate effectively neutralizes emerging variants, including the Delta variant, and has been awarded an additional $60.5 million in US government funding and built out significant infrastructure. We are pleased that Big Cypress shareholders recognized our progress and promise by approving this business combination, as we embark upon this exciting next stage of our growth."
About Big Cypress Acquisition Corp.
Big Cypress Acquisition Corp. is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses with a focus within the life sciences industry. Big Cypress is led by Chief Executive Officer, Chief Financial Officer and Director Samuel J. Reich. For more information, visit www.bigcypressaccorp.com.
About SAB Biotherapeutics, Inc.
SAB Biotherapeutics, Inc. (SAB) is a clinical-stage, biopharmaceutical company advancing a new class of immunotherapies leveraging fully human polyclonal antibodies. SAB has applied advanced genetic engineering and antibody science to develop transchromosomic (Tc) Bovine™ herds that produce fully human antibodies targeted at specific diseases, including infectious diseases such as COVID-19 and influenza, immune system disorders including type 1 diabetes and organ transplantation, and cancer. SAB's versatile DiversitAb™ platform is applicable to a wide range of serious unmet needs in human diseases. It produces natural, specifically targeted, high-potency, human polyclonal immunotherapies. SAB is currently advancing multiple clinical programs and has collaborations with the US government and global pharmaceutical companies. For more information on SAB, visit: https://www.sabbiotherapeutics.com and follow @SABBantibody on Twitter.
Certain statements made herein that are not historical facts are forward-looking statements for purposes of the safe harbor provisions under The Private Securities Litigation Reform Act of 1995. Forward-looking statements generally are accompanied by words such as "believe," "may," "will," "estimate," "continue," "anticipate," "intend," "expect," "should," "would," "plan," "predict," "potential," "seem," "seek," "future," "outlook" and similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, but are not limited to, statements regarding future events, the development of SAB-185, and the proposed business combination between Big Cypress and SAB. These statements are based on the current expectations of SAB and are not predictions of actual performance. These forward-looking statements are provided for illustrative purposes only and are not intended to serve as, and must not be relied on, by any investor as a guarantee, an assurance, a prediction or a definitive statement of fact or probability. Actual events and circumstances are difficult or impossible to predict, will differ from assumption and are beyond the control of Big Cypress or SAB.
Additional Information and Where to Find It
In connection with the business combination, Big Cypress has filed with the SEC a definitive proxy statement/prospectus. Big Cypress commenced mailing of the definitive proxy statement/prospectus to its stockholders on September 23, 2021. A proxy statement/prospectus has been sent to all Big Cypress stockholders as of the record date of September 17, 2021. On October 20, 2021, the stockholders of Big Cypress voted in favor of a proposal to approve the Business Combination at the special meeting of stockholders. This communication is not a substitute for the Registration Statement, the definitive proxy statement/final prospectus or any other document that Big Cypress sends to its stockholders in connection with the proposed business combination. Investors and security holders of Big Cypress are advised to read the proxy statement/prospectus in connection with Big Cypress' solicitation of proxies for its special meeting of stockholders to be held to approve the proposed business combination (and related matters) because the proxy statement/prospectus contains important information about the proposed business combination and the parties to the proposed business combination. Investors and security holders of Big Cypress are also invited to review the results of the special meeting which will be set forth in a Current Report on Form 8-K to be filed by Big Cypress with the SEC. Stockholders will also be able to obtain copies of the proxy statement/prospectus, without charge at the SEC's website https://www.sec.gov/ or by directing a request to [email protected].
Participants in the Solicitation
Big Cypress, SAB and their respective directors, executive officers, other members of management, and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies of Big Cypress' stockholders in connection with the proposed business combination. Investors and security holders may obtain more detailed information regarding the names and interests in the proposed business combination of Big Cypress' directors and officers in Big Cypress' filings with the SEC including the Registration Statement that has been submitted to the SEC by Big Cypress, which includes the proxy statement of Big Cypress for the proposed business combination, and such information and names of SAB's directors and executive officers.
This press release is not a proxy statement or solicitation of a proxy, consent or authorization with respect to any securities or in respect of the potential transaction and shall not constitute an offer to sell or a solicitation of an offer to buy the securities of Big Cypress or SAB, nor shall there be any sale of any such securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of the Securities Act of 1933, as amended.
Big Cypress Acquisition Corp.
BLL Partners for Big Cypress
SAB Biotherapeutics. Inc.
SOURCE Big Cypress Acquisition Corp.
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