Social Capital Suvretta Holdings I, a blank check company formed by Chamath Palihapitiya and Kishen Mehta targeting the biotech sector, raised $220 million by offering 22 million shares at $10. The company did not offer units with warrants attached.
The company is led by CEO and Chairman Chamath Palihapitiya, the founder and Managing Partner of Social Capital, and President and Director Kishen Mehta, who currently serves as the Portfolio Manager for the Averill strategy at Suvretta. The company plans to target the biotech sector, focusing on therapeutics, novel platforms, and other modalities to help manage and treat brain and nervous system disorders, including neurologic and psychiatric diseases and pain management.
Social Capital Suvretta Holdings I plans to list on the Nasdaq under the symbol DNAA. Morgan Stanley acted as sole bookrunner on the deal.
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