CM Life Sciences II priced its IPO of 24 million units at $10 per unit — an upsize of 20 percent over the 20 million units the SPAC initially planned to offer.
Units begin trading today on the Nasdaq under CMIIU. Each consists of one share of Class A common stock and one-fifth of one redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at $11.50\. After the securities comprising the units begin separate trading, shares and warrants will list under CMII and CMIIW, respectively.
The offering is expected to close Feb. 25.
Focusing on the life sciences sector for a potential acquisition, the SPAC is led by CEO Eli Casdin, founder of Casdin Capital, an investment firm focused on the life sciences and healthcare industry. Read more.
