European Biotech Acquisition, a blank check company formed by LSP targeting the life sciences industry in Europe, 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-third of a warrant, exercisable at $11.50.
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 plans to list on the Nasdaq under the symbol EBACU. Credit Suisse and Kempen acted as lead managers on the deal.
