Orion Biotech Opportunities priced its IPO of 20 million units at $10 each. Units list on the Nasdaq and begin trading today under ORIAU.
Each consists of one of the Company’s Class A ordinary shares and one-fifth of one redeemable warrant, with whole warrants exercisble at $11.50. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under ORIA and ORIAW” respectively.
Cantor Fitzgerald & Co. is sole book-running manager for the offering. Orion has granted the underwriter a 45-day option to purchase up to 3 million additional units to cover any over-allotments.
The offering is expected to close May 17.
Led by CEO and Director James Huang, a founding managing partner of VC firm Panacea Venture, Orion will target a company in the life sciences and biotechnology sectors. Read more.
