Frazier Life Sciences Closes $138M IPO

Cactus 1 raised $126.5 million in an upsized IPO two years ago. The SPAC is focused on Israel-related technology-based healthcare companies.

The SPAC’s current termination deadline is July 6. The extension proposal, if approved, would move the deadline to July 2024.

Terms call for a business combination between the SPAC and Mumbai-based Reliance Entertainment in a series of four tranches, according to a regulatory filing when the deal was announced in October, totaling $102 million in cash and $38 million in investment.

The SPAC raised $60 million in a December 2022 IPO. Horizon Space I is focused on emerging growth companies. Horizon has said it will consider potential target companies worldwide, including China, though it has yet to annonce a target.