Arbor Rapha Capital Bioholdings I priced its IPO of 15 million units at $10 each. Units start trading today on the Nasdaq under ARCKU. Each consists of one share of Class A common stock and one-third of a warrant.
When the securities begin separate trading, shares and redeemable warrants are expected to list under ARCK and ARCKW.
The offering is expected to close Nov. 2.
The SPAC will pursue opportunities in the biopharmaceutical sector, with a focus on disruptive technologies with the potential to transform healthcare and dramatically improve the lives of patients.
Cantor is sole book-running manager. The underwriters have the option to purchase up to an additional 2.2 million units to cover over-allotments, if any. Read more.
