eureKING will not complete its Proposed acquisitions of Skyepharma and SCTbio and will launch its dissolution and liquidation proceeding

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia or South Africa or any other jurisdiction in violation of the relevant laws of such jurisdiction.

eureKING will not complete its Proposed acquisitions of

Skyepharma and SCTbio and will launch its dissolution and liquidation proceeding

Paris, France, October 12, 2023 – eureKING (ISIN: FR0014009ON9, Euronext Paris), the first European special purpose acquisition company ("SPAC") in healthcare dedicated to bioproduction, announces that it will not complete its proposed Initial Business Combination (or "IBC")^[1]  with Skyepharma Production SAS ("Skyepharma" and the "Proposed IBC with Skyepharma") and, consequently, its proposed acquisition of SCT Cell Manufacturing s.r.o. ("SCTbio" and the "Proposed Acquisition of SCTbio"). 

Discussions announced on October 9, 2023, to modify the structure of the two acquisitions have been unsuccessful. In addition, it has proved impossible to extend beyond October 31, 2023 the deadline by which the Proposed IBC with Skyepharma must be completed under conditions set out in the Company's Articles of Association.

In these circumstances, certain of the conditions precedent set out in the sale and purchase agreement dated

September 4, 2023 relating to the acquisition of Skyepharma cannot be satisfied. Consequently, the Board of Directors has decided to convene an Extraordinary General Meeting on November 28, 2023 to decide the dissolution of the Company. Following this decision, the Company will be wound up in accordance with applicable laws and regulations.

As a result, the Combined General Meeting of the Company's shareholders convened on October 27, 2023, to approve the two acquisitions, becomes moot and will therefore not be held.

MEDIA CONTACTS

            Image Sept                                                                             

            Leslie Jung-Isenwater / Sergio de la Calle / Florence     

Coupry eureking@image7.fr 

+33 (0)1 53 70 74 70

Disclaimer

On June 6, 2023, J.P. Morgan terminated its association with eureKING and waived any fees and compensation in connection with such association. On the same day, J.P. Morgan also waived its entitlement to the payment

Not for release, publication or distribution, directly or indirectly, in or into the United States, Canada, Japan, Australia or South Africa or any other jurisdiction in violation of the relevant laws of such jurisdiction.

of any deferred compensation in connection with its role as underwriter in eureKING's initial public offering.

J.P. Morgan has informed eureKING that it is not responsible for any portion hereof.

About eureKING 

Founded in March 2022, eureKING is a French SPAC (Special Purpose Acquisition Company) formed with the aim of acquiring European companies in the field of cutting-edge biomanufacturing, with the ambition of creating a leading bio CDMO in Europe capable of meeting the growing outsourcing needs of this industry. eureKING has chosen to focus on three highly specialized and strategic segments of the biopharmaceutical industry: the production of biologics, in particular new generations of monoclonal antibodies or complex proteins, the production of cell and gene therapies and the production of live biotherapeutics (with applications in the microbiome). 

With a €150 million capital raising in May 2022, eureKING is led by an international management team of experienced healthcare industry talent, 100% dedicated to the SPAC project and its development strategy. eureKING is supported by a Board of Directors with complementary pharmaceutical and financial expertise to achieve its goal of developing and promoting the promising biomanufacturing sector in Europe on an international scale.  eureKING is listed on the professional compartment of Euronext Paris since May 12, 2022. 

www.eureking.com

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