Keith Meister (Photo by: Adam Jeffery/CNBC/NBCU Photo Bank/NBCUniversal via Getty Images)

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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