Flagship and Khosla Ventures team up for biotech's latest SPAC, with Valo Health winning a blank check ticket to Nasdaq
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The latest biotech SPAC deal has landed, and it’s coming from two prominent industry figures.
Flagship’s AI-focused Valo Health will reverse merge with the first of Vinod Khosla’s three blank check companies, the duo announced Wednesday morning, giving Valo access to the $333 million held in the SPAC as well as a $168.5 million PIPE financing. The merger will create a company valued at roughly $2.8 billion, Valo said, and is expected to close before September.
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