Chardan's blank check company picks microbiome player BiomX for $70M reverse merger
An unorthodox reverse merger has catapulted Israeli biotech BiomX onto the American stock market and infused as much as $70 million into the startup.
The investment bankers at Chardan set up the blank check company Chardan Healthcare Acquisition Corp and listed it on the NYSE in wait of a biotech player that could benefit from a public listing and their cash resources. When investors bought into the IPO $CHAC last December, they were betting on little more than the vision and reputation of the managing partners.
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