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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