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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