Biotech SPAC takes IPO goal down a notch; Africa’s top health agency warns against mon­key­pox vac­cine hoard­ing

A blank check SPAC was gun­ning to raise $100 mil­lion when it filed an S-1 in April. Now, it has set its sights a lit­tle bit low­er.

Biotech Group Ac­qui­si­tion Corp an­nounced Thurs­day that in­stead of of­fer­ing 10 mil­lion units for $10 a piece, it is now plan­ning on of­fer­ing on­ly 7.5 mil­lion shares at that price, which would net the com­pa­ny $75 mil­lion. Each unit con­tains one share of com­mon stock and one war­rant, ex­er­cis­able at $11.50.

Unlock this article instantly by becoming a free subscriber.

You’ll get access to free articles each month, plus you can customize what newsletters get delivered to your inbox each week, including breaking news.

SIGN UP LOG IN BECOME A PREMIUM SUBSCRIBER