NUVB - Panacea Acquisition II prices $150M SPAC IPO in biotech space

The latest SPAC from Panacea Acquisition (NUVB), who took preclinical stage oncology company Nuvation Bio public through a reverse merger, will begin trading Wednesday, April 7, after staging $150M IPO in biotechnology sector.Panacea Acquisition Corp II prices its initial public offering of 15M shares at $10 per share to trade under the ticker symbol "PANA".Underwriters' overallotment option is to purchase up to an additional 2.25M shares.Target: The company, sponsored by affiliate of EcoR1 Capital, says it intends to focus its search for a target business operating in the biotechnology sector that is domiciled in North America or Europe.Previously (March 11): Nuvation Bio reports FY results

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Panacea Acquisition II prices $150M SPAC IPO in biotech space