DA32 Life Science Tech Acquisition priced its IPO of 20 million shares at $10 each.
The stock begins trading today on the Nasdaq under DALS. The offering is expected to close July 30.
Sponsored by affiliates of Deerfield Management Company, ARCH Venture Partners and Section 32, DA32 is led by CEO and Director Steven Kafka, PhD., who is currently a managing partner at Section 32. Dr Andrew ElBardissi, a partner with Deerfield, and Keith Crandell, co-founder and managing director of ARCH, will also serve as directors representing the sponsors.
The SPAC intends to identify promising opportunities in the life science technology sector.
J.P. Morgan and Cowen are joint book-running managers of the offering. The underwriters have an option to purchase up to an additional 3 million shares to cover over-allotments, if any. Read more.