Roivant Going Public Via MAAC SPAC Merger for ~$7.3B

 Roivant Going Public Via MAAC SPAC Merger for ~$7.3B

Shots:

  • Roivant signs a SPAC merger with MAAC for ~7.3B including $411M in cash in the MAAC trust account and $200M in PIPE stock at $10.00/share. The transaction is expected to deliver ~$611M to fund discovery and development programs and is expected to close in Q3’21
  • Roivant equity holders and Patient Square Capital have agreed to lock up at least half shares for ~3yrs. Pro forma net cash position of ~$2.3B following transaction will enable strategic pipeline expansion through internal drug discovery and in-licensing, continued development and commercialization
  • The current shareholders of Roivant will own ~ 92% of the combined company while Roivant expect to trade on Nasdaq under the ticker “ROIV’’

Click here to­ read full press release/ article | Ref: PRNewswire | Image: MAAC

Tuba Khan

Tuba Khan is Senior Editor at PharmaShots. She is curious, creative, and passionate about recent updates and innovation in the Life sciences industry. She covers Biopharma, MedTech, and Digital health segments. Tuba also has an experience of digital and social media marketing and runs the campaigns independently. She can be contacted on tuba@pharmashots.com

Related post