Voyager Acquisition (NASDAQ:VACH) moved one step closer to finalizing its merger with Veraxa Biotech following an extraordinary general meeting on March 12, 2026.
Shareholders overwhelmingly approved the business combination, which will transition the clinical-stage biopharmaceutical company to a public listing on the Nasdaq Capital Market.
The approval, however, was met with a significant exodus of public capital.
Voyager reported that holders of 25,217,315 Class A shares—approximately 99.67% of the total outstanding—opted to redeem their shares for cash.
The massive redemption leaves just $885,556 remaining in the trust account to fund the combined entity’s initial operations.
Only 82,685 Class A shares remained unredeemed and will convert into common shares of the new entity, Veraxa Biotech Holding .
The lean cash position at closing shifts the spotlight to Veraxa’s proprietary drug discovery engine.
Based in Zurich, Veraxa specializes in next-generation antibody-drug conjugates (ADCs) and bispecific T-cell engagers.
The company’s "BiTAC" platform, born from breakthroughs at the European Molecular Biology Laboratory (EMBL), is designed to create safer and more precise cancer therapies.
The transaction is expected to close in the coming days, pending final satisfaction of customary closing conditions and formal listing approval from Nasdaq.