ANEW MEDICAL Enters Definitive Merger Agreement With SPAC Company Redwoods Acquisition

The transaction values the combined company at a pro forma enterprise value of approximately $94.0 million (assuming no redemptions) with existing ANEW stockholders rolling over 100% of their equity into the combined company.  The transaction is expected to provide approximately $54 million of cash proceeds, assuming no redemptions by Redwoods stockholders. Upon completion of the transaction, the combined company will operate as ANEW MEDICAL and expects to remain listed on NASDAQ.