European Biotech Acquisition Corp CEO Eduardo Bravo and Sanaby Health CEO Sandra Shpilberg

Tale of two SPACs: One strikes a deal as tur­bu­lent mar­ket forces an­oth­er to dis­solve

The SPAC mar­ket con­tin­ued its rough year Mon­day, as one blank check com­pa­ny is set to move for­ward on a deal while an­oth­er dis­solved.

De­but­ing last year, San­a­by Health came on­to the scene dur­ing the SPAC boom with the usu­al buzz­words for its strat­e­gy, but it ap­pears that it couldn’t hold on in the cur­rent ecosys­tem. The com­pa­ny an­nounced that it in­tends to dis­solve and liq­ui­date by Wednes­day.

In a re­lease, the com­pa­ny said, “that due to its in­abil­i­ty to con­sum­mate an ini­tial busi­ness com­bi­na­tion with­in the pe­ri­od re­quired by its Amend­ed and Re­stat­ed Cer­tifi­cate of In­cor­po­ra­tion,” it had to be­gin the liq­ui­da­tion process.

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