Orion Biotech Opportunities closed its IPO of 20 million units $10 each.
Each unit consists of one Class A ordinary share and one-fifth of one redeemable warrant, with each whole warrant exercisable at $11.50. Units trade on the Nasdaq under ORIAU. Once the securities comprising the units begin separate trading, shares and warrants are expected to list under ORIA and ORIAW, respectively.
Orion Biotech is targeting companies in a growth-oriented sector, including technology and media.
Cantor Fitzgerald was sole book-running manager for the offering. The underwriter has a 45-day option to purchase up to 3,000,000 additional units to cover any over-allotments. Read more.
