A $105M SPAC deal? Re­al­ly? A biotech with deep Chi­na roots is mak­ing a now-rare flip on­to Nas­daq

SPACs may be way down, but they aren’t com­plete­ly out.

Apol­lomics, a biotech with deep roots in Chi­na and an HQ in Cal­i­for­nia, is tak­ing the once-flashy SPAC route to flip its way on­to Nas­daq. If every­thing holds to­geth­er, the biotech will emerge with up to $105 mil­lion and a mi­nor­i­ty in­vestor with 10% of the stock. The com­pa­ny will al­so claim a val­ue of $900 mil­lion go­ing in to an are­na that has played hav­oc with the biotech crowd this year.

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