Roivant Going Public Via MAAC SPAC Merger for ~$7.3B

May 4, 2021 Auto Bot M&A, Roivant 0

Shots:

  • Roivant signs a SPAC merger with MAAC for ~7.3B including $411M in cash in the MAAC trust account and $200M in PIPE stock at $10.00/share. The transaction is expected to deliver ~$611M to fund discovery and development programs and is expected to close in Q3’21
  • Roivant equity holders and Patient Square Capital have agreed to lock up at least half shares for ~3yrs. Pro forma net cash position of ~$2.3B following transaction will enable strategic pipeline expansion through internal drug discovery and in-licensing, continued development and commercialization
  • The current shareholders of Roivant will own ~ 92% of the combined company while Roivant expect to trade on Nasdaq under the ticker “ROIV’’

Click here to­ read full press release/ article | Ref: PRNewswire | Image: MAAC

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