Singapore biotech startup Mirxes in talks for US$1.2b SPAC listing in US
Add BT as a preferred source
Singapore
SINGAPORE biotech company Mirxes is in early talks to go public via a blank-cheque company affiliated with veteran private equity healthcare investor Fu Wei, according to people familiar with the matter.
A deal between Mirxes and Summit Healthcare Acquisition is set to value the combined entity at about US$1.2 billion, one of the people said. The special purpose acquisition company (SPAC) deal would feature a so-called private investment in public equity (PIPE), which involves a private placement of the company's common stock to its investors. A transaction could be reached by early next year, although talks might still fall apart.
TRENDING NOW
Malaysian tycoon Vincent Tan’s sell-downs point to pruning rather than an exit plan
Simba ordered to pay S$700,000 in damages to indoor skydiving operator Altitude Xperience for trespass
What’s wrong with Orchard Road? Experts weigh in on the street’s cachet and its future
As luxury retail goes big, can Singapore’s Orchard Road keep up?
