Zaoui Brothers Take U.K. Drugmaker Startup Public Via SPAC

BenevolentAI, a U.K. startup that uses artificial intelligence to develop drugs, is going public at a 1.5 billion euros ($1.7 billion) valuation via a SPAC from investment banker brothers Michael and Yoel Zaoui, Bloomberg reports

BenevolentAI will combine with Odyssey Acquisition SA, a 300 million-euro blank check company that the Zaoui brothers listed on Euronext Amsterdam in July, according to a statement on Monday. Read more.

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Northern Star Stockholders Approve $1.6B BARK Merger

The combined company would have an enterprise value of approximately $1.6 billion, including debt. BARK expects to receive up to $454 million in cash at closing, assuming there were no redemptions by Northern Star’s stockholders. The amount includes an upsized fully-committed $200 million PIPE.