Biotech Acquisition Company Announces Closing of $230,000,000 Initial Public Offering
28 Gennaio 2021 - 8:58PM
Biotech Acquisition Company (the “Company”) announced today that it
has closed its initial public offering of 23,000,000 units,
including 3,000,000 units issued pursuant to the full exercise by
the underwriters of their over-allotment option. The offering was
priced at $10.00 per unit, resulting in gross proceeds of
$230,000,000.
The Company’s units are listed on the Nasdaq Capital Market
(“Nasdaq”) and commenced trading under the ticker symbol “BIOTU” on
January 26, 2021. Each unit consists of one of the Company’s Class
A ordinary shares and one-half of one redeemable warrant, each
whole warrant entitling the holder thereof to purchase one Class A
ordinary share at a price of $11.50 per share. Only whole warrants
are exercisable. Upon separation of the units, no fractional
warrants will be provided and only whole warrants will trade. Once
the securities comprising the units begin separate trading, the
Class A ordinary shares and warrants are expected to trade on
Nasdaq under the symbols “BIOT” and “BIOTW,” respectively.
The Company is 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 services.
Cantor Fitzgerald & Co. acted as the sole book-running
manager for the offering.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$230,000,000 (or $10.00 per unit sold in the public offering) was
placed in the Company’s trust account. An audited balance sheet of
the Company as of January 28, 2021 reflecting receipt of the
proceeds upon consummation of the initial public offering and the
private placement will be included as an exhibit to a Current
Report on Form 8-K to be filed by the Company with the U.S.
Securities and Exchange Commission (the “SEC”).
The offering has been 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 these securities was
declared effective by the SEC on January 21, 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 jurisdiction in which such an
offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state or
jurisdiction.
FORWARD-LOOKING STATEMENTS
This communication contains “forward-looking statements,”
including with respect to the anticipated use of the net proceeds
from the Company’s initial public offering. No assurance can be
given that the net proceeds of the offering will be used as
indicated. Forward-looking statements are subject to numerous risks
and assumptions, many of which are beyond the control of the
Company, including those set forth in the Risk Factors section of
the Company’s registration statement and prospectus for the
offering, as filed with the SEC. Copies are available on the SEC’s
website at www.sec.gov. The Company undertakes no obligation
to update any of its forward-looking statements, except as required
by
law.
ContactMichael
ShleiferStephanie.Kolp@sprim.net
Grafico Azioni Biotech Acquisition (NASDAQ:BIOTU)
Storico
Da Mag 2024 a Giu 2024
Grafico Azioni Biotech Acquisition (NASDAQ:BIOTU)
Storico
Da Giu 2023 a Giu 2024