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Biotech Acquisition Company (NASDAQ: BIOTU) has announced that starting March 18, 2021, holders of units from its initial public offering can separately trade Class A ordinary shares and warrants. The Class A Ordinary Shares will trade under the symbol BIOT and the warrants under BIOTW. Units that remain unseparated will continue to trade under the symbol BIOTU. Investors must coordinate with their brokers to facilitate the separation. The company remains focused on seeking business combinations in the healthcare sector.
Biotech Acquisition Company closed its initial public offering of 23 million units on January 28, 2021, generating gross proceeds of $230 million at a unit price of $10.00. The units began trading on Nasdaq under the symbol 'BIOTU' on January 26, 2021. Each unit comprises one Class A ordinary share and half a redeemable warrant, allowing the purchase of one share at $11.50. The Company aims to target businesses in healthcare, particularly life sciences and medical technology, leveraging the expertise of its sponsors at SPRIM Global Investments.
Biotech Acquisition Company has priced its initial public offering (IPO) of 20,000,000 units at $10.00 per unit, targeting the healthcare sector for future business combinations. The units will list on Nasdaq under the ticker symbol “BIOTU” starting January 26, 2021, with the offering closing on January 28, 2021, pending customary conditions. Each unit includes one Class A ordinary share and a half warrant for a share at $11.50. Cantor Fitzgerald & Co. is the lead manager for the offering, which may allow for an additional 3,000,000 units for over-allotments.
