Therapeutics Acquisition, a blank check company formed by RA Capital targeting the biotech sector, filed on Monday with the SEC to raise up to $100 million in an initial public offering. The company plans to raise an additional $25 million through a forward purchase agreement with its sponsor.
The Boston, MA-based company plans to raise $100 million by offering 10 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Therapeutics Acquisition would command a market value of $125 million.
Therapeutics Acquisition is led by CEO and Chairman Peter Kolchinsky, founder and Managing Partner of RA Capital, and CFO Matthew Hammond, who is a Principal on the investment team at RA Capital. The company plans to leverage its management team's experience and target the healthcare industry, with an emphasis on the biotech sector.
Therapeutics Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol TXACU. Jefferies is the sole bookrunner on the deal.
