Senti Bio completes its SPAC merger, though not before seeing investors 'playing a financial game'
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Despite the bear market creating ongoing struggles in the biotech sector, one company is charging ahead with the completion of its SPAC deal Thursday. But it’s crossing the finish line with a much lower cash haul than originally planned.
Tim Lu’s Senti Bio will officially start trading Thursday on Nasdaq after wrapping up its merger with Omid Farokhzad’s blank check company, the newly combined business said, pulling together $140.3 million in gross proceeds. The figure comes in at less than half the $296 million expected when the merger was announced last December.
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