Biotech Acquisition Company Announces Pricing of $200 Million Initial Public Offering
26 Gennaio 2021 - 2:47AM
Biotech Acquisition Company (the “Company”), a blank check company
formed for the purpose of effecting a merger, amalgamation, share
exchange, asset acquisition, share purchase, reorganization or
other similar business combination with one or more businesses,
today announced the pricing of its initial public offering of
20,000,000 units at a price of $10.00 per unit. Although the
Company may pursue a business target in any industry or
geographic location, the Company intends to focus its search for a
target business in the healthcare sector.
The units will be listed on the Nasdaq Capital Market (“Nasdaq”)
and trade under the ticker symbol “BIOTU” beginning January 26,
2021. Each unit consists of one Class A ordinary share and one-half
of one redeemable warrant. Each whole warrant entitles the holder
thereof to purchase one Class A ordinary share at a price of $11.50
per share. Only whole warrants are exercisable. Once the securities
comprising the units begin separate trading, the Class A ordinary
shares and warrants are expected to be listed on Nasdaq under the
symbols “BIOT” and “BIOTW”, respectively. The offering is expected
to close on January 28, 2021, subject to customary closing
conditions.
Cantor Fitzgerald & Co. is acting as the sole book-running
manager for the offering. The Company has granted the underwriters
a 45-day option to purchase up to an additional 3,000,000 units at
the initial public offering price to cover over-allotments, if
any.
The offering is being made only by means of a prospectus, copies
of which may be obtained by contacting Cantor Fitzgerald & Co.,
Attention: Capital Markets, 499 Park Avenue, New York, NY 10022, or
by e-mail at prospectus@cantor.com.
A registration statement relating to the securities became
effective on January 25, 2021.
This communication shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of
these securities in any state or other jurisdiction in which such
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
other jurisdiction.
About Biotechnology Acquisition Company
Biotech Acquisition Company (the “Company”), a blank check
company formed for the purpose of effecting a merger, amalgamation,
share exchange, asset acquisition, share purchase, reorganization
or other similar business combination with one or more businesses.
Although the Company may pursue a business target in any
industry or geographic location, the Company intends to focus its
search for a target business in the healthcare sector. The Company
believes that this focus will complement its sponsor’s and
management team’s background as affiliates of SPRIM Global
Investments, a leading life science investment firm in the
healthcare industry. The Company expects that its target sector
will have a particular focus on life sciences/ biotechnology,
healthcare information technology, medical technology and
technology-enabled healthcare service sectors.
Cautionary Note Concerning Forward-Looking
Statements
This communication contains statements that constitute
“forward-looking statements,” including with respect to the closing
of the Company’s proposed initial public offering and the
anticipated use of the net proceeds from the offering. No assurance
can be given that the offering will be completed on the terms
described, or at all, or that the net proceeds will be used as
indicated. Forward-looking statements are subject to numerous risks
and uncertainties, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s preliminary prospectus relating to the offering,
which is included in its registration statement filed with the U.S.
Securities and Exchange Commission (“SEC”). Copies are available on
the SEC’s website, www.sec.gov. The Company undertakes no
obligation to update these statements after the date of this
release, except as required by law.
Contacts
Michael ShleiferStephanie.Kolp@sprim.net
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