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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