Peak Bio plunges in debut after de-SPAC

Peak Bio

02/11/2022 14:37

** Peak Bio Inc  PKBO.O  plunges as much as 40.8% to $7.73
in debut after SPAC merger. Shares last down 38.0% at $8.09
    ** Co on Weds announces completion of business combination
with special-purpose acquisition company Ignyte Acquisition Corp
(IGNY) urn:newsml:reuters.com:*:nBw9zpRLqa
    ** Oncology/inflammatory disease drug developer in Apr
agreed to go public in deal valued at $278 mln  urn:newsml:reuters.com:*:nBw2trDZNa
    ** The market for SPACs has soured over the past two years
as some high-profile sponsors unwound their vehicles after
failing to identify suitable merger targets
    ** Other SPACs scrapped planned tie-ups amid surging
interest rates, tightened regulation, high shareholder
redemptions and dismal price performance post-merger
 (Lance Tupper is a Reuters market analyst. The views expressed
are his own)
 ((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-332-219-1430))