Big Cypress Acquisition, a blank check company targeting life science businesses in the US and Israel, raised $100 million by offering 10 million units at $10. Each unit still consists of one share of common stock and one-half of a warrant, exercisable at $11.50. The SPAC had originally filed to offer 7.5 million units, before increasing the deal size last week.
The Miami Beach, FL-based company is led by CEO, CFO, and Director Samuel Reich, who previously co-founded Biscayne Neurotherapeutics in 2011 and served as Executive Chairman until its 2018 sale to Supernus Pharmaceuticals (Nasdaq: SUPN) for $185 million. He is joined by Chairman Jeffrey Spragens, who previously co-founded SafeStitch Medical in 2005 and served as CEO until its merger with TransEnterix (NYSE: TRXC) in 2013.
Big Cypress Acquisition plans on targeting growth-oriented life sciences companies that offer novel products and/or platforms with the potential to address unmet medical needs.
Big Cypress Acquisition plans to list on the Nasdaq on Tuesday under the symbol BCYPU. Ladenburg Thalmann acted as lead manager on the deal.
