According to the Complaint, Chardan Healthcare Acquisition Corp. is a special purpose acquisition company formed for the purpose of effecting a merger, acquisition, or similar business combination.

On July 16, 2019, Chardan’s Board of Directors caused Chardan to enter into an agreement and plan of merger with BiomX Ltd. Pursuant to the terms of the Merger Agreement, BiomX’s security holders will receive an aggregate of 16,625,000 Chardan shares. As a result of the Proposed Transaction, Chardan’s public stockholders will only own approximately 20% of Chardan’s stock.

On September 13, 2019, Defendants filed a Proxy Statement with the United States Securities and Exchange Commission, which recommends that Chardan’s stockholders vote to approve the Proposed Transaction at a special meeting of stockholders scheduled for October 23, 2019. The Complaint alleges that the Proxy Statement omits material information with respect to the Proposed Transaction, which renders the Proxy Statement false and misleading.

This case was voluntarily dismissed as moot on October 16, 2019.