CBI plans to issue new SPAC to merge with Israeli life science company
The Israeli biotech giant plans to raise $100 million on Nasdaq to acquire a company that’s involved in advanced healthcare solutions
Hezi Sternlicht | 12:14 18.03.2021
The SPAC frenzy is continuing to produce new opportunities. On Thursday, Clal Biotechnology Industries (CBI) announced its intent to issue a special purpose acquisition company (SPAC) on the Nasdaq in an effort to raise $100 million to acquire or merge with an Israeli life sciences company. According to the company’s statement, it plans to acquire a company that is active in the biotechnology, drug development, digital healthcare, or medical technology sectors.