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Phoenix Biotech Acquisition Corp. (NASDAQ:PBAXU) announced that its unit holders can begin trading Class A common shares and warrants separately from November 26, 2021. Units that remain intact will continue trading under the symbol PBAXU, with Class A common shares and warrants to trade under PBAX and PBAXW, respectively. The SEC declared effective a registration statement for the offering on October 5, 2021. This release does not constitute an offer to sell or buy securities where unlawful. It includes forward-looking statements about the IPO, subject to various conditions.
Phoenix Biotech Acquisition Corp. (NASDAQ:PBAXU) announced the successful completion of its initial public offering on October 6, 2021. The company raised $175 million by issuing 17.5 million units, including 2 million units from the underwriters’ over-allotment option. Each unit comprises one share of Class A common stock and a half warrant, with each whole warrant exercise priced at $11.50. The company's Class A shares will trade under the symbol PBAX, while the warrants will be listed as PBAXW. Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering.
Phoenix Biotech Acquisition Corp. (NASDAQ:PBAXU) announced its initial public offering (IPO) pricing of 15,500,000 units at $10.00 each, yielding $155,000,000 in gross proceeds. Trading is set to commence on October 6, 2021, on The Nasdaq Global Market under the symbol PBAXU. Each unit includes one share of Class A common stock and one-half of a warrant, with the latter priced at $11.50 per share. The underwriters have a 45-day option for an additional 2,325,000 units. The offering closure is anticipated around October 8, 2021, pending customary conditions.
