Roivant Going Public Via MAAC SPAC Merger for ~$7.3B

Shots:

• Roivant signs a SPAC merger with MAAC for ~7.3B including $411M in cash in the MAAC trust account and $200M in PIPE stock at $10.00/share. The transaction is expected to deliver ~$611M to fund discovery and development programs and is expected to close in Q3’21
• Roivant equity holders and Patient Square Capital have agreed to lock up at least half shares for ~3yrs. Pro forma net cash position of ~$2.3B following transaction will enable strategic pipeline expansion through internal drug discovery and in-licensing, continued development and commercialization
• The current shareholders of Roivant will own ~ 92% of the combined company while Roivant expect to trade on Nasdaq under the ticker “ROIV’’

Click here to­ read full press release/ article | Ref: PRNewswire | Image: MAAC