Panacea Acquisition Corporation (NYSE:PANA) announced that its shareholders have approved its combination with drug developer Nuvation Bio at a special meeting earlier today.
No redemption information was given. The vote results were ~94% in favor of the combination with ~6% voting against the merger, with 500 shares abstaining.
Panacea expects the deal to close February 10, 2021. The combined entity will begin publicly trading on the New York Stock Exchange under the new symbols “NUVB” and “NUVBW”, respectively, on February 11, 2021.
Panacea initially announced its $1.3 billion combination with Nuvation Bio on October 21. New York-based Nuvation Bio is developing six novel treatments for a variety of cancer types.
ADVISORS
- Jefferies is acting as lead capital markets and financial advisor to Nuvation Bio.
- BMO Capital Markets, BTIG, RBC Capital Markets and Wedbush PacGrow are also acting as advisors to Nuvation Bio.
- Cooley is acting as legal counsel to Nuvation Bio.
- Cowen is acting as financial advisor to Panacea and private placement agent.
- Skadden Arps Slate Meagher & Flom is acting as legal counsel to Panacea.


At the SPAC of Dawn As the SPAC market has warmed in 2025, only 21 of the 70 SPACs (30%) that have IPO’d thus far have overfunded their trusts to draw in investors and none of these funded to more than 101%. By contrast, 87% of 2023 SPACs were overfunded – some to as high...
Emmis Acquisition Corporation (NASDAQ:EMISU) has filed for a $100 million SPAC to take a look at the manufacturing sector after a few unique wrinkles in their IPO process. Initial investors are set to receive one right to a 1/10 share in each unit purchased and the SPAC will have 18 months to complete a business...
Chenghe III (NASDAQ:CHEC.U) has filed for a $110 million SPAC to continue the team’s growing series while turning to a new underwriter. The new SPAC is offering investors a 1/2 warrant in each unit and no overfunding of the trust, but it will need to complete a business combination within 18 months of its IPO...
At the SPAC of Dawn Futures sit slightly red as investors return from holidays of barbecues and fireworks to renewed concerns about where US President Donald Trump’s tariff policy might hamper trade. The latest shift produced a further one-month delay in most of the tariffs Trump has threatened to impose as his administration continues to...
Terms Tracker for the Week Ending July 3, 2025 Welcome to our weekly column where we discuss the findings from our IPO terms tracker based on the previous week’s pricings. We’re heading into the July 4th holiday, so we’ll keep this week’s column short and to the point. But before you head to the beach,...