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.

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