Finance Watch: Roivant To Go Public In SPAC Merger, Raise $611m

Werewolf, Vaccitech Bring US 2021 Biopharma IPO Total To 40

Public Company Edition: Roivant’s deal sets its market cap at $7.3bn. Beyond the Werewolf and Vaccitech offerings, more drug developers are slated to go public during the first week of May. And in follow-on offerings, COMPASS Pathways raises $144m and Aldeyra brings in $125m.

Finance Watch

After years of wondering whether founder and executive chairman Vivek Ramaswamy would take Roivant Sciences public, the multi-subsidiary firm will begin trading on the Nasdaq in the third quarter when the company closes its merger with the special purpose acquisition corporation (SPAC) Montes Archimedes Acquisition Corp. (MAAC), which was announced on 3 May.

The deal gives Roivant approximately $611m in new cash, including roughly $411m held in trust by MAAC and $200m from...

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