The publicly-traded company will be Gelesis Holdings Inc and will begin trading on the New York Stock Exchange under the ticker symbol "GLS" from today.
Both Gelesis and Capstar shareholders voted to approve the business combination. The transaction generated approximately $105 million in gross proceeds, which will be mainly used to support the broad launch of Plenity.
"We are pleased with the completion of this transaction, which now makes Gelesis the third publicly-traded Founded Entity for PureTech," said Eric Elenko, Chief Innovation and Strategy Officer at PureTech. "
Plenity is FDA-cleared to aid in weight management in adults with excess weight or obesity, as defined by a Body Mass Index of 25 to 40 kg/m² when used in conjunction with diet and exercise.
Plenity is designed to help people feel satisfied with smaller meal portions to eat less and lose weight.
It is taken orally as three capsules with 16 ounces of water twice a day, 20 minutes before lunch and dinner.
A Plenity subscription costs $98 for a four-week supply ($1.75 per meal).
Price Action: CPSR shares closed higher by 9.85% at $7.36 on Thursday.
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