Dynamics Special Purpose Corp. Announces Pricing of $200 Million Initial Public Offering
Dynamics Special Purpose Corp. has priced its initial public offering (IPO) at $10.00 per share, offering 20,000,000 shares of Class A common stock. The IPO will trade under the ticker symbol DYNS on Nasdaq, starting May 26, 2021. The company aims to merge with or acquire businesses in the healthcare sector, focusing on life sciences tools and drug discovery. J.P. Morgan Securities LLC is the sole book-running manager for the offering, which may include an additional 3,000,000 shares for over-allotments. The offering is set to close on May 28, 2021.
- The IPO of 20,000,000 shares at $10.00 each provides significant capital for future business combinations.
- Focus on the emerging healthcare value chain could lead to significant growth opportunities.
- The offering dilutes existing shares, potentially affecting current shareholders.
- There's no guarantee that the anticipated business combinations will result in positive outcomes.
Dynamics Special Purpose Corp. (the “Company”) announced today that it priced its initial public offering of 20,000,000 shares of Class A common stock at
The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company intends to focus its search for businesses across the emerging healthcare value chain, including development platforms that enable applications in prevention, diagnosis, treatment or advanced biomaterials, and, within that context, specific categories include life sciences tools, enabling-software, synthetic biology and novel drug discovery. The management team includes Omid Farokhzad, Executive Chair of the Board of Directors, Mostafa Ronaghi, Chief Executive Officer, Mark Afrasiabi, Chief Financial Officer and Rowan Chapman, Chief Business Officer.
J.P. Morgan Securities LLC is acting as the sole book-running manager of the offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 3,000,000 shares of Class A common stock at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 (telephone: 1-866-803-9204), or by email at prospectus-eq_fi@jpmchase.com.
A registration statement relating to the securities became effective by the U.S. Securities and Exchange Commission (the “SEC”) on May 25, 2021. This press release 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 offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
The offering is expected to close on May 28, 2021, subject to customary closing conditions.
Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. Forward-looking statements are subject to numerous conditions, 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 preliminary prospectus for the Company’s offering filed with the SEC. Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
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