KBL Merger Corp. (NASDAQ: KBLM, KBLMR, KBLMW), a special purpose acquisition company (“SPAC”), on Friday announced that a special meeting of shareholders was held on Nov. 5, 2020, where all proposals were approved, including the business combination with 180 Life Sciences Corp. In addition, today KBL Merger Corp. announced successful completion of its acquisition of 180 Life Sciences Corp., a clinical-stage biotechnology company with its lead indication in Phase 2b/3, focused on the development of novel drugs that fulfill unmet needs in inflammatory diseases, fibrosis and pain. Prior to the closing of the merger, 180 Life Sciences Corp. changed its name to 180 Life Corp., and KBL Merger Corp. changed its name to 180 Life Sciences Corp. According to the update, references to KBL Merger Corp. IV refer to the company and references to 180 Life Sciences Corp. refer to 180 Life Sciences (which became a wholly-owned subsidiary of the company following the merger). As a result of the merger, KBLM Merger Corp. units and rights ceased trading, and the shares of its common stock and warrants will trade on the Nasdaq Capital Market under the ticker symbols “ATNF” and “ATNFW,” respectively, starting on or about November 9, 2020. “We evaluated many companies to find the best merger candidate for KBL Merger Corp. IV and are excited to be combining with 180 Life Sciences,” said KBL Merger Corp. CEO Marlene Krauss. ”The merger provides a unique investment opportunity in the biotechnology space. 180 Life Sciences is run by a world class team of people with decades of experience in drug development and commercialization, there are multiple programs in various stages of development which mitigates risk and we are developing drugs that address large markets.”
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About KBL Merger Corp. IV
KBL Merger Corp. is a blank check company that raised $115 million with the goal of identifying and acquiring a company with a strong value proposition mainly in the U.S. health care industry. KBL Merger Corp. focused on this industry due to its management’s deep experience in this large, growing segment of the U.S. economy. Marlene Krauss, MD is the CEO of KBL Merger Corp. This is Dr. Krauss’ fourth SPAC in the health care space. She has invested more than $1 billion through three institutional venture capital funds, numerous IPOs and three prior SPACS. For more information, visit www.KBLMerger.com.
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