On May 17, 2021 Orion Biotech Opportunities Corp. (the "Company") reported the closing of its initial public offering ("IPO") of 20,000,000 units at a price of $10.00 per unit, resulting in total gross proceeds of $200,000,000 (Press release, Orion Biotechnology, MAY 17, 2021, View Source [SID1234580232]). The Company’s units began trading on The Nasdaq Capital Market (the "Nasdaq") under the symbol "ORIAU" on May 13, 2021.
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Each unit consists of one of the Company’s Class A ordinary shares and one-fifth of one redeemable warrant, with each whole warrant entitling the holder thereof to purchase one Class A ordinary share at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A ordinary shares and warrants are expected to be listed on the Nasdaq under the symbols "ORIA" and "ORIAW," respectively.
Orion Biotech Opportunities Corp. is a newly incorporated special purpose acquisition company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with a target in a growth-oriented sector, including technology and media.
Cantor Fitzgerald & Co. acted as the sole book-running manager for the offering. The Company has granted the underwriter a 45-day option to purchase up to 3,000,000 additional units to cover over-allotments, if any.
The offering was made by means of a prospectus, copies of which may be obtained, when available, from Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor New York, New York 10022; Email: [email protected].
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") on May 12, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
A registration statement relating to these securities has been declared effective by the U.S. Securities and Exchange Commission (the "SEC") on March 24, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.