Four SPACs launched this month by billionaire Chamath Palihapitiya priced upsized IPOs of $220 million each today. All are focused on biotech companies.
Palihapitiya registered earlier this month with the SEC for the four new SPACs, called Social Capital Suvretta Holdings I, II, III and IV, each of which was initially to raise $200 million. Palihapitiya is teaming with an executive from the Suvretta investment firm, Kishen Mehta, who leads Suvretta’s health-care-focused investment team and will be the president of all four entities, while Palihapitiya serves as chief executive.
Social Capital Suvretta Holdings I shares begin trading today on the Nasdaq under DNAA.
Trading in Social Capital Suvretta Holdings II also begins today on the Nasdaq, under DNAB.
Social Capital Suvretta Holdings III starts trading today on the Nasdaq under DNAC.
Shares of Social Capital Suvretta Holdings IV begin trading today under DNAD on the Nasdaq.
The New Yorker proclaimed Palihapitiya — the former venture-capital investor and early Facebook employee — “The Pied Piper of SPACs.”
