The biopharma industry may be doing deals again, but SPACs are being left out of the recent wave. Orion Biotech Opportunities Corp., a blank check vehicle funded in part by tech billionaire Michael Dell’s family firm, announced Monday it will dissolve on May 17 and return investments to shareholders after being unable to find a merger partner. As of April 20, the SPAC’s trust account held roughly $205 million, according to a press release. Orion had hoped to find either a partner developing new drugs or one working on the tech side of the biotech industry.
Read the full article: $200M SPAC Funded by Billionaire Michael Dell Will Unwind after Failing to Find a Partner //
Source: https://endpts.com/200m-spac-funded-by-billionaire-michael-dell-will-unwind-after-failing-to-find-a-partner