Lon­don AI-fo­cused Benev­o­len­tAI go­ing pub­lic in Eu­rope via $438M SPAC deal

AI biotech Benev­o­len­tAI is go­ing pub­lic in the Nether­lands, and it de­cid­ed to go the SPAC route as part of one of the largest merg­ers in Eu­rope to date.

The AI biotech is join­ing with a SPAC known as Odyssey, launched by in­vest­ment banker broth­ers Michael and Yoel Za­oui. And when it clos­es ear­ly next year and lists on Eu­ronext in Am­s­ter­dam, the merg­er will al­low Benev­o­len­tAI to raise more than $430 mil­lion — and go pub­lic with more than $1 bil­lion in val­ue, which should last the biotech for the next few years.

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