European Biotech Acquisition, a blank check company formed by LSP targeting the life sciences industry in Europe, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering.
The Amsterdam, Netherlands-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, European Biotech Acquisition would command a market value of $129 million.
The company is led by Chairman Martijn Kleijwegt, the founder and Managing Partner of LSP, one of Europe's largest healthcare investment firms, and CEO Eduardo Bravo, who previously served as Interim CEO of OncoDNA and CEO of Nordic Nanovector. The company plans to target opportunities in the life sciences industry in Europe.
European Biotech Acquisition was founded in 2021 and plans to list on the Nasdaq. It has not selected a symbol yet (RC ticker: EBAU.RC). Credit Suisse and Kempen are the joint bookrunners on the deal.
