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Biotech Acquisition Company Announces Separation of Class A Ordinary Shares and Warrants

Strategic Insights

— 1 min read

Biotech Acquisition Company, a blank check company, has announced that holders of its initial public offering units can elect to separately trade the Company's Class A ordinary shares and warrants, commencing March 18, 2021. The separation of units will result in the Class A Ordinary Shares and warrants trading on the NASDAQ Capital Market under the symbols "BIOT" and "BIOTW," respectively, while the units not separated will continue to trade under the symbol "BIOTU." This decision is intended to provide investors with the flexibility to trade the securities separately, but it is essential for holders to contact Continental Stock Transfer & Trust Company to facilitate the separation process.

Key Takeaways:

  • The holders of Biotech Acquisition Company's initial public offering units can elect to separately trade the Company's Class A ordinary shares and warrants, commencing March 18, 2021.
  • The Class A Ordinary Shares and warrants that are separated will trade on the NASDAQ Capital Market under the symbols "BIOT" and "BIOTW," respectively.
  • Units not separated will continue to trade under the symbol "BIOTU."
  • Holders of the units must contact Continental Stock Transfer & Trust Company to facilitate the separation process.
  • The Company intends to focus its search for a target business in the healthcare sector, complementing its sponsor's and management team's backgrounds in the life sciences and healthcare industries.

Statistics:

  • The separation of units will commence on March 18, 2021.
  • The Class A Ordinary Shares and warrants will trade on the NASDAQ Capital Market under the symbols "BIOT" and "BIOTW," respectively.
  • The units not separated will continue to trade under the symbol "BIOTU."

Sources:

  • PRNewswire
  • Biotech Acquisition Company press release (March 15, 2021)

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