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Biotech Acquisition Company Announces Pricing of $200 Million Initial Public Offering

Tue 26th January, 2021 1:47am
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New York, NY, Jan. 25, 2021 (GLOBE NEWSWIRE) -- Biotech Acquisition Company
(the “Company”), a blank check company formed for the purpose of effecting
a merger, amalgamation, share exchange, asset acquisition, share purchase,
reorganization or other similar business combination with one or more
businesses, today announced the pricing of its initial public offering of
20,000,000 units at a price of $10.00 per unit. Although the Company may
pursue a business target in any industry or geographic location, the Company
intends to focus its search for a target business in the healthcare sector.

The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and trade
under the ticker symbol “BIOTU” beginning January 26, 2021. Each unit
consists of one Class A ordinary share and one-half of one redeemable warrant.
Each whole warrant entitles the holder thereof to purchase one Class A
ordinary share at a price of $11.50 per share. Only whole warrants are
exercisable. Once the securities comprising the units begin separate trading,
the Class A ordinary shares and warrants are expected to be listed on Nasdaq
under the symbols “BIOT” and “BIOTW”, respectively. The offering is
expected to close on January 28, 2021, subject to customary closing
conditions.

Cantor Fitzgerald & Co. is acting as the sole book-running manager for the
offering. The Company has granted the underwriters a 45-day option to purchase
up to an additional 3,000,000 units at the initial public offering price to
cover over-allotments, if any.

The offering is being made only by means of a prospectus, copies of which may
be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets,
499 Park Avenue, New York, NY 10022, or by e-mail at prospectus@cantor.com.

A registration statement relating to the securities became effective on
January 25, 2021.

This communication 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 other jurisdiction in which such offer, solicitation or sale would be
unlawful prior to registration or qualification under the securities laws of
any such state or other jurisdiction.

About Biotechnology Acquisition Company

Biotech Acquisition Company (the “Company”), a blank check company formed
for the purpose of effecting a merger, amalgamation, share exchange, asset
acquisition, share purchase, reorganization or other similar business
combination with one or more businesses. Although the Company may pursue a
business target in any industry or geographic location, the Company intends
to focus its search for a target business in the healthcare sector. The
Company believes that this focus will complement its sponsor’s and
management team’s background as affiliates of SPRIM Global Investments, a
leading life science investment firm in the healthcare industry. The Company
expects that its target sector will have a particular focus on life sciences/
biotechnology, healthcare information technology, medical technology and
technology-enabled healthcare service sectors.

Cautionary Note Concerning Forward-Looking Statements

This communication contains statements that constitute “forward-looking
statements,” including with respect to the closing of the Company’s
proposed initial public offering and the anticipated use of the net proceeds
from the offering. No assurance can be given that the offering will be
completed on the terms described, or at all, or that the net proceeds will be
used as indicated. Forward-looking statements are subject to numerous risks
and uncertainties, many of which are beyond the control of the Company,
including those set forth in the Risk Factors section of the Company’s
preliminary prospectus relating to the offering, which is included in its
registration statement filed with the U.S. Securities and Exchange Commission
(“SEC”). Copies are available on the SEC’s website, www.sec.gov. The
Company undertakes no obligation to update these statements after the date of
this release, except as required by law.

Contacts

Michael Shleifer
Stephanie.Kolp@sprim.net



GlobeNewswire, Inc. 2021

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