Singapore biotech startup Mirxes in talks for US$1.2b SPAC listing in US
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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.
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