CM Life Sciences III rises on deal to take EQRx public

EQRx

06/08/2021 13:03

** Shares of special purpose acquisition company  CMLT.O  up
~3.6% at $10.36 premarket
    ** Co to take biotech firm EQRx Inc public through a merger
 urn:newsml:reuters.com:*:nL4N2PD2II
    ** Deal to give EQRx an enterprise value of $3.65 bln 
    ** Includes a $1.2 bln PIPE from SoftBank Group Corp
 9984.T  subsidiary SB Management Limited, Casdin Capital,
Corvex Management and others
    ** Co is backed by activist investor Keith Meister and life
sciences investor Eli Casdin
    ** SPACs are publicly listed shell companies that are raised
with the intention of merging it with a private company at a
later date in an effort to take it public
    ** Shares down ~2.2% since co's debut in June

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))