Biotech firm Roivant Sciences to go public via $7.3 billion SPAC deal

Roivant Sciences has agreed to go public through a merger with a blank-check firm backed by former KKR & Co Inc dealmaker Jim Momtazee, in a deal that values the Swiss biotech company at $7.3 billion.

The deal with Montes Archimedes Acquisition Corp, a special purpose acquisition company (SPAC), is expected to deliver up to $611 million of gross proceeds to fund discovery and development programs, the companies said on Monday.

That includes up to $411 million currently held in the SPAC’s trust account and $200 million from new and existing investors including Fidelity Management and SoftBank Group Corp unit SB Management.

Read More: Reuters

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