
Eli Casdin and Icahn protégé find a home for their $450M SPAC, merging with Sema4
All the blank check companies from the summer of SPACs technically have two years to find a company to merge with, but why wait, when there’s a $2 billion company available today?
Casdin Capital, having raised one of the largest ever life science SPACs, announced today that it’s merging the shell corporation with Sema4, the J&J and Sanofi-partnered patient data, testing and genomics platform. The deal will value the company at $2 billion, offering current shareholders $793 million and raising an additional $350 million from Casdin, Perceptive Advisors, SoftBank’s SB Management and others to inject into the company. The SPAC itself had $443 million in its coffers.
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