CAPA - HighCape Capital Acquisition more than doubles on Quantum-Si merger

February, 18 2021 02:22 PM Quantum-Si Inc Cl A

HighCape Capital Acquisition Corp. (CAPA) soared as much as 140% Thursday after the SPAC agreed to buy biotech firm Quantum-Si (QSI) at a $1.46B valuation. CAPA rose to a record-high $25 a share intraday on the news, but partly pulled back to reach $20.70 shortly after 2 p.m. ET, up 99.4% on the session. (See chart below.) Quantum-Si makes a single-molecule protein-sequencing platform for “proteomics,” the study of how organisms use proteins. The company said in announcing the deal that its product “is on track to launch commercially in 2022 for research use [and] has the potential to significantly disrupt an existing addressable $21 billion market of pharmaceutical, academic research and drug discovery. The platform also may enable new diagnostic applications in healthcare.” HighCape CEO Kevin Rakin said the company’s business strategy “aligns well with our investment philosophy. … We look forward to supporting Quantum-Si and building a sustainable business

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HighCape Capital Acquisition more than doubles on Quantum-Si merger

Company Name:	Quantum-Si Inc Cl A
Stock Symbol:	CAPA
Market:	NASDAQ

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