Eucrates Biomedical Acquisition Corp. (EUCRU) Prices $100M IPO


Eucrates Biomedical Acquisition Corp. (EUCRU) Prices $100M IPO

Eucrates Biomedical Acquisition Corp. announced the pricing of its $100 million IPO this morning and its units are expected to begin trading on the Nasdaq under the symbol “EUCRU” today, Friday, October 23.

The new company aims to combine with a North American or European healthcare target with the potential to drive transformational change through the convergence of biomedicine and data science. Eucrates is led by Chairman Dr. Stelios Papadopoulos, CEO and Director Parag Saxena, President COO and Director Dr. Evangelos Vergetis, and CFO Gonzalo Gordova.

Total SPAC deal count for 2020 year-to-date is now 160 with $58.99 billion in gross proceeds raised. This offering is expected to close on Tuesday, October 27.

Stifel, Nicolaus & Company, Inc. and H.C. Wainwright & Co. LLC are acting as joint book-running managers for the offering. Proskauer Rose LLP is serving as Issuer’s Counsel with Kirkland & Ellis LLP serving as Underwriter’s Counsel. Marcum LLP serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.