Ibere Pharmaceuticals, a blank check company formed by PIPV Capital targeting pharmaceutical or life science businesses, raised $120 million by offering 12 million units at $10. The company offered 2 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by CEO and Chairman Osagie Imasogie, who is co-founder and Senior Managing Partner of healthcare-focused private equity manager PIPV Capital and previously was the Founding VP of GlaxoSmithKline Ventures. He is joined by CFO and Director Lisa Gray and COO and Director Zoltan Kerekes, who are both co-founders and Managing Partners of PIPV Capital. The company plans to target pharmaceutical or life science businesses with strong and internationally-known brands and a clear path to tangible value add, among other characteristics.
Ibere Pharmaceuticals plans to list on the NYSE under the symbol IBERU. Raymond James acted as a lead manager on the deal.
