Phoenix Biotech Acquisition Corp. (PBAXU) Prices $155M IPO

Phoenix Biotech Acquisition Corp.  announced the pricing of its $155 million IPO and its shares are expected to begin trading on the Nasdaq under the symbol “PBAXU” Wednesday, October 6.

The Company intends to combine with a life sciences business that addresses unmet medical and commercial needs and offers unrecognized value within the investment community. Phoenix Biotech is led by CEO Chris Ehrlich, CFO Daniel Geffken, and President Douglas Fisher.

Total SPAC deal count for 2021 year-to-date is now 453. This offering is expected to close on Friday, October 8.

Cantor Fitzgerald & Co. is serving as sole book-running manager for the offering. Ledgewood, PC is serving as Issuer’s Counsel with Ellenoff Grossman & Schole LLP serving as Underwriter’s Counsel. Citrin Cooperman & Company, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.