The Latest SPAC News and Rumors: September 24, 2021
Below is a daily summary of links to the latest SPAC news and rumors gathered across the web.
Latest SPAC News: SPACs may be a boon to CLO equity returns and SAB Biotherapeutics receives positive safety review
SPAC Acquisitions of Distressed Companies Help Drive CLO Returns
The increase of SPACs is yet another positive factor working in favor of the red-hot collateralized loan obligation market, which is very close to achieving an annual sales record, according to CLO equity investor Flat Rock Global.
That’s because having SPACs hunt for acquisition targets in the riskiest borrowers within CLO loan pools may mean credits that currently trade somewhat below par can trade back up to that price as a result of the SPAC merger process, Shiloh Bates, managing director at Flat Rock, said in a telephone interview with Bloomberg.
READSAB Biotherapeutics Announces SAB-185 Receives Positive DSMB Review and Advances to Phase 3 in NIH-Sponsored ACTIV-2 Trial for Treatment of COVID-19
SAB Biotherapeutics, a clinical-stage biopharmaceutical company with a novel immunotherapy platform that produces specifically targeted, fully-human polyclonal antibodies without the need for human donors, today announced that an independent Data Safety Monitoring Board (DSMB) has completed its prespecified interim analysis data review of the safety and efficacy of SAB-185 in the Phase 2 portion of the ACTIV-2 trial and has recommended advancement to Phase 3.
SAB-185 is a fully-human, specifically-targeted, broadly-neutralizing polyclonal antibody therapeutic candidate for the treatment of non-hospitalized patients with mild to moderate COVID-19.
On June 22, SAB announced a planned merger with Big Cypress Acquisition Corp. (NASDAQ: BCYP). The transaction is expected to close in the fourth quarter of 2021.
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