DA32 Life Science Tech Acquisition, a blank check company formed by Deerfield Management, ARCH Venture Partners, and Section 32, filed on Friday with the SEC to raise up to $200 million.
The New York, NY-based company plans to raise $200 million by offering 20 million shares at $10. The company is not offering units with warrants attached. At the proposed deal size, DA32 Life Science Tech Acquisition would command a market value of $257 million.
Co-sponsored by Deerfield Management, ARCH Venture Partners, and Section 32, DA32 Life Science Tech Acquisition is led by CEO and Director Steve Kafka, a Managing Partner of Section 32. The company plans to leverage management's background and experience to target the life sciences sector.
DA32 Life Science Tech Acquisition was founded in 2021 and plans to list on the Nasdaq under the symbol DALS. The company filed confidentially on May 28, 2021. J.P. Morgan, and Cowen are the joint bookrunners on the deal.
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