Playboy, digital health, electric vehicles and now cancer drugs: A mountainous SPAC journey
A prolific SPAC creator has found a business partner for its fifth blank check company with just four weeks to go before a business combination deadline. Its partner had only disclosed a modest $27 million Series A last October as it plans to go after similar targets as Bayer and Roche.
The name of the SPAC operator might not be familiar but its first partner likely is: Playboy. Then, prescription digital therapeutics startup Better Therapeutics. Third in line: digital healthcare company ETAO, which had its valuation slashed from $2.5 billion to $1 billion during the SPAC process. In May, a China-based electric vehicle maker signed up.
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