Panacea Acquisition Corp. II, a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, priced its initial public offering of 15,000,000 Class A ordinary shares at a price of $10.00 per share. The company is sponsored by EcoR1 Panacea Holdings II LLC, an affiliate of EcoR1 Capital LLC. While the company may pursue an initial business combination target in any industry or location, it intends to focus its search for a target business operating in the biotechnology sector that is domiciled in North America or Europe.
The Class A ordinary shares are expected to be listed on The Nasdaq Capital Market and trade under the ticker symbol “PANA.”
Cowen is serving as the sole book-running manager for the offering. The company has granted the underwriters a 45-day option to purchase up to an additional 2,250,000 Class A ordinary shares at the initial public offering price to cover over-allotments, if any.