Two IPOs and eight SPACs went public in the week of April 5, 2021 led by VectivBio Holding (NASDAQ: VECT), swiss Phase 3 biotech developing therapies for rare gastrointestinal disorders, raised $128 million at a $634 million market cap and finished 43% above its IPO price.
Reneo Pharmaceuticals (NASDAQ: RPHM), Phase 2 biotech developing therapies for rare genetic mitochondrial diseases, raised $94 million at a $397 million market cap and finished 7% below its IPO price.
The eight SPACs went public this past week are:
1. CM Life Sciences III (life science business SPAC)
2. TPG Pace Solutions (mature businesses underperforming their potential SPAC)
3. Model Performance Acq. (businesses in Asia SPAC)
4. Ace Global Business (gaming and e-commerce in China, Japan, and Southeast Asia SPAC)
5. Tio Tech A (technology-enabled businesses in Europe SPAC)
6. Panacea Acquisition II (biotech industry SPAC)
7. Aldel Financial (no selected target industry)
8. Global SPAC Partners (businesses in MENA and South Asia SPAC)
Together, all the SPACs raised a total of 1.5 billion.
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