Apollomics reveals resolution of legal dispute in the Cayman Islands
Apollomics announced entering into a settlement agreement with TWVC Goldlink Partners Investment Limited and TWVC Panglin Group Investment Limited, entities represented by Triwise Capital Management Ltd, in connection with the litigation previously filed in the Grand Court of the Cayman Islands. The Cayman Litigation involved claims by two minority shareholders relating to the requested redemption of preferred shares of the Company before the consummation of the Company's merger with Maxpro Capital Acquisition Corporation in 2023. The Settlement Agreement fully resolves all disputes between the Company and TWVC. Under the Agreement, the Company has agreed to pay TWVC a total of $5M in cash, to be made in several installments over a period of two years, plus approximately $879,757.78 in associated legal expenses. As agreed in the Settlement Agreement, TWVC will withdraw all claims against the Company and its affiliates, and the parties are in the process of submitting the Settlement and Settlement Agreement for the court's approval to conclude the associated litigation proceedings. The original amount of damages claimed by TWVC was approximately $40M, as disclosed in the Form 20-F filed in April 2025.
