Mintz Ushers in a New Public Company
Key Facts
- Daré became a wholly owned subsidiary of Cerulean
- Cerulean changed its name to "Daré Bioscience, Inc., and became a publicly traded company
- Daré utilized an innovative transaction to go public by consummating a reverse merger into a fallen-angel
The Situation
San Diego–based Daré Bioscience Operations, Inc., a private health care company working to develop innovative product candidates in women’s reproductive health, was seeking to raise capital through entering the public markets.
The Approach
Mintz, with its significant experience helping clients access capital markets and finance their operations, helped Daré meet the challenge by leveraging an innovative transaction — a variation of a reverse merger into a publicly traded fallen-angel.
The Outcome
The transaction resulted in Daré becoming a wholly owned subsidiary of Cerulean and the stockholders of Daré gaining a controlling interest in the public company. As part of the transaction, Cerulean changed its name to "Daré Bioscience, Inc.,” and the post-transaction entity currently trades on the Nasdaq Capital Market under the symbol “DARE.”
