ALSP Orchid Acquisition I, a blank check company formed by Accelerator Life Science Partners, raised $150 million by offering 15 million units at $10. 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 Director Thong Le, Senior Managing Director and CEO of venture firm Accelerator Life Science Partners, and Chairman Bruce Carter, a senior advisor to Accelerator Life Sciences Partners. The company plans to leverage management's experience and target life science businesses in North America and Singapore with a particular emphasis on those developing assets and next-generation platform technologies with broad applicability.
ALSP Orchid Acquisition I plans to list on the Nasdaq under the symbol ALORU. Stifel and Nomura Securities acted as joint bookrunners on the deal.
