Brent Saun­ders rides $400M wave to the top of the SPAC boom

Brent Saun­ders’ de­ci­sion to join the SPAC gold rush ap­pears to have paid off nice­ly, al­beit not quite as nice­ly as he and his for­mer Al­ler­gan col­leagues had hoped.

Saun­ders’ spe­cial pur­pose ac­qui­si­tion com­pa­ny Ves­per Health­care Ac­qui­si­tion raised $400 mil­lion, sell­ing 40 mil­lion shares at 10 bucks a pop. That’s a bit short of the $460 mil­lion he and for­mer Al­ler­gan ex­ec Man­isha Narasimhan had ini­tial­ly sten­ciled in as the max­i­mum po­ten­tial of­fer­ing, but it still leaves one of phar­ma’s most fa­mous — and oc­ca­sion­al­ly no­to­ri­ous — wheel­ers and deal­ers with one of the largest hauls for a life sci­ence shell com­pa­ny yet, eclips­ing the $385 mil­lion Cas­din Cap­i­tal and Corvex Man­age­ment raised ear­ly this month.

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