Business combination closed November 13, 2024Raised $10 million of gross proceeds in connection with the business combinationAgreements are in place with Yorkville for up to a $50 million standby equity purchase agreement, to raise an additional $2 million in debt financing and the sale of up to 500,000 shares of common stock pursuant to forward purchase agreement Financing will support advancement of Abpro's pipeline of its next-generation antibody therapies for cancer, ophthalmology, and infectious diseases WOBURN, Mass., Dec. 12, 2024 (GLOBE NEWSWIRE) -- Abpro Holdings, Inc. (Nasdaq:ABP) ('Abpro”), a biotech company with the mission of improving the lives of mankind facing severe and life-threatening diseases with next-generation antibody therapies, celebrated the closing of its business combination with Atlantic Coastal Acquisition Corp II ('ACAB”), a special purpose acquisition company, with a Nasdaq bell ringing ceremony. Abpro also celebrated the consummation of a PIPE offering raising $7 million in gross proceeds and a $2.76 million convertible note financing with YA II PN, LTD ('Yorkville”) to cover expenses in connection with the closing of the business combination.