Big Cypress Acquisition (BCYP) Stockholders Approve Business Combination with SAB Biotherapeutics
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Big Cypress Acquisition Corp. (NASDAQ: BCYP), (Big Cypress) a publicly-traded special purpose acquisition company focused on innovative biopharmaceutical firms, today announced that its stockholders have approved the proposed business combination (the "Business Combination") with SAB Biotherapeutics, Inc. (SAB), a clinical-stage biopharmaceutical company developing a novel immunotherapy platform producing targeted, high potency, fully-human polyclonal antibody therapeutics and advancing programs in infectious disease and immune system disorders, at a Special Meeting of stockholders held on October 20, 2021 (the "Special Meeting").
Approximately 98.3% of the votes cast at the Special Meeting, representing approximately 78.6% of Big Cypress' outstanding shares of common stock entitled to vote at the Special Meeting, were cast in favor of the proposal to approve the Business Combination. Big Cypress' stockholders also voted in favor of all other proposals presented at the Special Meeting. The formal results of the Special Meeting will be included in a Current Report on Form 8-K to be filed by Big Cypress with the Securities and Exchange Commission (the "SEC").
The Business Combination is expected to close on or about October 22, 2021, subject to the satisfaction or waiver of customary closing conditions.
Upon closing of the Business Combination, the combined company will be named SAB Biotherapeutics, Inc. (the "Combined Company") and its common stock and warrants will be listed on the Nasdaq Stock Market under the ticker symbols "SABS" and "SABSW", respectively. The common stock and warrants of the Combined Company are anticipated to begin trading on or about October 25, 2021. Any outstanding units of Big Cypress, consisting of shares of Big Cypress common stock and warrants to purchase Big Cypress common stock, will automatically separate into the equivalent number of common stock and warrants of the Combined Company upon the consummation of the Business Combination.
"Our initial enthusiasm for the potential of SAB's first-in-class, targeted fully-human polyclonal antibodies to offer novel treatments for a wide range of diseases with significant unmet medical needs has grown as the company has made significant strides and we've worked closely together over the past months," said Samuel Reich, CEO of Big Cypress and future Executive Chairman of the SAB Board of Directors. "I am delighted that Big Cypress shareholders have overwhelmingly ratified the business combination and I look forward to the opportunity to contribute to SAB's future growth."
"We joined forces with Big Cypress because we believed their experienced biopharmaceutical team truly appreciated the differentiation and potential of our unique immunotherapy platform and pipeline programs," said Eddie J. Sullivan, PhD, co-founder, President and CEO of SAB. "Since the merger was announced in June, our team has continued to execute on all fronts. SAB has initiated a Phase 2 clinical trial in seasonal influenza, initiated a Phase 3 adaptive trial for COVID-19, announced new nonclinical data showing that our COVID-19 candidate effectively neutralizes emerging variants, including the Delta variant, and has been awarded an additional $60.5 million in US government funding and built out significant infrastructure. We are pleased that Big Cypress shareholders recognized our progress and promise by approving this business combination, as we embark upon this exciting next stage of our growth."
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