Another SPAC Merger Goes South

RA Capital, Citadel, Farallon, Suvretta and Perceptive are under water on the recently closed merger between a biopharma company and RA Capital’s SPAC.

(Amir Hamja/Bloomberg)

(Amir Hamja/Bloomberg)

Another SPAC merger with heavy hedge fund support has turned into a disaster.

On June 30, Therapeutics Acquisition Corp. (doing business as Research Alliance Corp. I), a special-purpose acquisition company sponsored by RA Capital Management, completed its merger with POINT Biopharma Inc., which is building a platform to develop radioligands that fight cancer.

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