Panacea Acquisition II after missing its deadline to complete a deal, disclosed in an 8-K that it will redeem shares and dissolve by April 21. The per-share fredemption price is expdcted to be approximately $10.25.
The SPAC is sponsored by EcoR1 Panacea Holdings II, an affiliate of EcoR1 Capital.
Panacea II raised $150 million in an IPO two years ago to target a business operating in the biotechnology sector and based in North America or Europe. Read more.
