Panacea Acquisition Corp. II Announces Pricing of $150,000,000 Initial Public Offering
Panacea Acquisition Corp. II announced its initial public offering (IPO) pricing of 15,000,000 Class A ordinary shares at $10.00 each, aiming to raise $150 million. Sponsored by EcoR1 Panacea Holdings II, LLC, the IPO is focused on the biotechnology sector within North America and Europe. Shares will be listed on Nasdaq under the ticker symbol “PANA” beginning April 7, 2021. The underwriters have an option for an additional 2,250,000 shares for over-allotments. The offering is subject to various conditions as detailed in the SEC's registration statement.
- Successful pricing of 15,000,000 Class A shares at $10.00 each, potentially raising $150 million.
- Focus on acquiring businesses in the biotechnology sector, indicating a strategic market selection.
- Listing on Nasdaq enhances visibility and accessibility for investors.
- No assurance of the completion of the offering on outlined terms.
- The company may face challenges in finding a suitable acquisition target.
SAN FRANCISCO, CA, April 06, 2021 (GLOBE NEWSWIRE) -- Panacea Acquisition Corp. II (the “Company”), a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, today announced the pricing of its initial public offering of 15,000,000 Class A ordinary shares at a price of
The Class A ordinary shares are expected to be listed on The Nasdaq Capital Market and trade under the ticker symbol “PANA” beginning April 7, 2021.
Cowen is serving as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 Class A ordinary shares 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 Cowen, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, or by telephone at 631-274-2806, or by fax at 631-254-7140.
A registration statement relating to the securities has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”). 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.
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 for the Company’s offering filed with the SEC and the preliminary prospectus included therein. 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.
Investor Contact:
Panacea Acquisition Corp. II
Please email: panacea@ecor1cap.com
FAQ
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