Biotech SPAC BioPlus Acquisition Prices US$200 Million IPO

Special purpose acquisition company BioPlus Acquisition Corp. (Nasdaq: BIOSU) started trading publicly on the Nasdaq Global Market on Friday. The company is seeking to raise US$200 million in its initial public offering.

The offering consists of 20.0 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half of a purchase warrant. Each whole warrant is redeemable for one Class A common share at US$11.50 per share.

The company units trade on the Nasdaq big board under the symbol “BIOSU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “BIOS” and “BIOSW”, respectively.

The proposed offering is being managed by Cantor Fitzgerald & Co. as the sole bookrunner, which the company granted a 45-day over-allotment option to purchase additional 3.0 million company units at the same IPO price.

The blank check company is being led by venture firm Triton Systems CEO Ross Haghighat as the firm’s chief executive officer and biotech firm Revolo Biotherapeutics CEO Jonathan Rigby as the chairman. On its target businesses, it intends to focus on companies in the life sciences industry.

BioPlus Acquisition last traded at US$10.01 on the Nasdaq.

Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

Leave a Reply