The deal is sourced from Aerpio's own 8-K press release exhibit, filed May 17, 2021, announcing the signed merger agreement and PIPE commitment letters from a syndicate of life-science investors led by Acuta Capital Partners and KVP Capital.
Perella Weinberg Partners LP served as one of two financial advisors to Aadi Bioscience, the private operating company that effectively became the controlling entity post-merger, alongside Piper Sandler & Co. The release states: "Perella Weinberg Partners LP and Piper Sandler & Co. are acting as financial advisors to Aadi for the transaction and Wilson Sonsini Goodrich & Rosati, P.C. is serving as its legal counsel." On the public-shell side, Ladenburg Thalmann & Co. Inc. advised Aerpio.
Goodwin Procter LLP served as legal counsel to Aerpio, while Wilson Sonsini Goodrich & Rosati, P.C. served as legal counsel to Aadi.
The $155 million concurrent PIPE financing figure is explicitly disclosed, but the release does not state an implied enterprise or equity value for the reverse-merger transaction itself. The deal was expected to close in the third quarter of 2021, subject to Aerpio shareholder approval, completion of the PIPE financing, and customary closing conditions.
Not disclosed in the reviewed excerpt: the implied valuation or exchange ratio of the merger itself (as distinct from the PIPE amount), the ownership split between legacy Aerpio and Aadi shareholders post-closing, and whether Perella Weinberg's role was lead or co-advisor relative to Piper Sandler.