Helix Acquisition III, a blank check company formed by Cormorant Asset Management targeting healthcare, raised $150 million by offering 15 million shares at $10. The company had originally planned to raise $125 million by offering 12.5 million shares. Unlike most SPACs, the company did not offer units with warrants or rights attached.
Helix Acquisition II is led by CEO and Chair Bihua Chen, founder and Managing Member of healthcare investment firm Cormorant Asset Management. He is joined by CFO and COO Caleb Tripp, the CFO of Cormorant. The SPAC plans to target the healthcare or healthcare-related industries, particularly focusing on the biotech, medtech, and life science sectors.
Management's previous SPACs include Helix Acquisition II, which completed its merger with oncology biotech BridgeBio Oncology Therapeutics (BBOT; +13% from $10 offer price) in August 2025, and Helix Acquisition, which completed its merger with biotech MoonLake Immunotherapeutics (MLTX; +56%) in April 2022.
Helix Acquisition III plans to list on the Nasdaq under the symbol HLXC. Leerink Partners and Oppenheimer & Co. acted as joint bookrunners on the deal.
