Epiphany Technology Acquisition Corp. Announces Appointment of Officers and Directors
Epiphany Technology Acquisition Corp. announced an increase in its Board of Directors from 7 to 11, electing Ross Haghighat, Stephen Sherwin, Ronald Eastman, and Louis Lange. Ross Haghighat is appointed Co-CEO. The company aims to expand its focus to the biotechnology sector due to challenges in partnering with technology businesses at attractive valuations. The management team has been augmented with experienced individuals in biotechnology. Forward-looking statements are included, indicating potential risks and uncertainties regarding future operations.
- Expansion of the Board of Directors enhances governance and expertise.
- Appointment of experienced directors signals a strategic shift towards biotechnology, potentially opening new market opportunities.
- Focus on biotechnology may lead to better partnership prospects given favorable market conditions.
- Current market challenges in the SPAC sector may hinder business combination efforts.
- Press release contains forward-looking statements with inherent risks and uncertainties.
NEW YORK, Sept. 23, 2022 /PRNewswire/ -- Epiphany Technology Acquisition Corp. (the "Company") announced today that the company's Board of Directors (the "Board") has approved an increase in the size of the Board from seven (7) directors to eleven (11) directors and elected Ross Haghighat, Stephen Sherwin, Ronald Eastman and Louis Lange as members of the Board. In addition, the Board appointed Mr. Ross Haghighat as Co-Chief Executive Officer of the Company. The Board determined that each of Messrs. Stephen Sherwin, Ronald Eastman and Louis Lange is an "independent director" as defined in the Nasdaq listing standards and applicable rules of the Securities and Exchange Commission.
While the Company may pursue an initial business combination with a partner company in any business or industry, it initially focused on technology businesses. The public markets in general, as well as the SPAC market in particular, remain challenged, making it difficult for us to partner with a high-quality technology company at an attractive valuation. We decided to expand our focus to include the biotechnology industry, where we believe the market backdrop remains more favorable. To this end, we have augmented our management team and board with highly qualified individuals with significant experience building, operating and investing in biotechnology companies.
The Company is blank check company organized for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or other similar business combination with one or more businesses or entities.
FORWARD-LOOKING STATEMENTS
This press release may contain statements that constitute "forward-looking statements," including with respect to the initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 offering filed with the SEC. Copies 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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SOURCE Epiphany Technology Acquisition Corp
FAQ
What changes were made to the Board of Directors of EPHYU?
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Why is EPHYU expanding its focus to biotechnology?
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