Blank-check firm Social Capital edges up on $1 bln merger talks with ProKidney

Prokidney

10/01/2022 13:01

** Shares of Chamath Palihapitiya-backed Social Capital
Suvretta Holdings Corp. III  DNAC.O  up 0.8% at $9.89 premarket
    ** Co to take biotech firm ProKidney public through $1 bln
deal, Bloomberg News reported https://www.bloomberg.com/news/articles/2022-01-08/palihapitiya-spac-is-said-to-be-in-merger-talks-with-prokidney
 on Friday
    ** ProKidney focuses on treatment of chronic kidney
diseases, with technology that it says has potential to restore
organ's function by using the patient's own kidney cells
    ** Deal could be announced as soon as this week, report said
    ** DNAC raised $250 mln in a July IPO

 (Reporting by Niket Nishant in Bengaluru)
 ((Niket.Nishant@thomsonreuters.com;))