Social Capital Suvretta Holdings Corp. III announced the pricing of its upsized $220M IPO and its units are expected to begin trading on the Nasdaq under the symbol “DNAC” Wednesday, June 30.
The new SPAC aims to combine with a biotech target, specifically within the “organ space”. Social Capital Suvretta Holdings Corp. III is led by Chairman and CEO Chamath Palihapitiya along with President Kishan Mehta.
Total SPAC deal count for 2021 year-to-date is now 357. This offering is expected to close on Friday, July 2.
Morgan Stanley is acting as the sole book-running manager for the offering with So-Fi as the co-manager. Wachtell, Lipton, Rosen & Katz is serving as Issuer’s Counsel with Ropes & Gray LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.
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