NEW YORK, Nov. 2, 2021 /PRNewswire/ -- Arbor Rapha Capital
Bioholdings Corp. I (the "Company") (NASDAQ: ARCKU) announced
today the closing of its initial public offering of 17,250,000
units at $10.00 per unit, including
2,250,000 units issued pursuant to the exercise by the underwriters
of their over-allotment option in full. The units
are listed on The Nasdaq Global Market
("Nasdaq") and began trading under the ticker symbol
"ARCKU" on October 29, 2021. Each
unit consists of one share of Class A common stock and
one-third of one redeemable warrant. Each whole warrant
entitles the holder thereof to purchase one share of Class
A common stock at a price of $11.50 per share. Only whole warrants are
exercisable. Once the securities comprising the units begin
separate trading, the shares of Class A common
stock and redeemable warrants are expected to be listed
on Nasdaq under the symbols "ARCK" and "ARCKW,"
respectively.
The Company was founded by Arbor Rapha Capital LLC. The Board of
Directors includes Ivan Kaufman,
Kevin Slawin, M.D., Cyrus Walker, Avery
Modlin and Ralph Mack. The
Company is a "blank check" company formed for the purpose of
effecting a merger, a capital stock exchange, asset acquisition,
stock purchase, reorganization or similar business combination with
one or more businesses. The Company intends to capitalize on our
management team's experience and expertise to identify attractive
acquisition opportunities in the biopharmaceutical sector, with a
focus on disruptive technologies with the potential to transform
healthcare and dramatically improve the lives of patients.
Cantor Fitzgerald & Co. ("Cantor") acted as the sole
book-running manager for the offering.
The offering was made only by means of a
prospectus. Copies of the prospectus may be obtained from
Cantor, Attention: Capital Markets, c/o Cantor Fitzgerald &
Co., 499 Park Avenue, 5th Floor, New
York, New York 10022, or by email at
prospectus@cantor.com.
A registration statement relating to the securities was
declared effective by the U.S. Securities and Exchange Commission
(the "SEC") on October 28, 2021. This press release shall
not constitute an offer to sell or the solicitation of an
offer to buy, nor shall there be any sale of these securities in
any state or jurisdiction in which such
offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
Forward-Looking Statements
This press release contains
statements that constitute "forward-looking statements," including
with respect to the proposed initial public offering. No assurance
can be given that the offering will be completed on the
terms described, or at all. Forward-looking statements are
subject to numerous conditions, many of which are beyond the
control of the Company, including those set forth in the Risk
Factors section of the Company's preliminary prospectus for
the Company's offering filed with the SEC. Copies of these
documents are available on the SEC's website, www.sec.gov. The
Company undertakes no obligation to update these statements for
revisions or changes after the date of this release, except as
required by law.
Investor Contact:
Arbor Rapha Capital
Bioholdings Corp. I
info@arcbiocorp.com
https://arcbiocorp.com/
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SOURCE Arbor Rapha Capital Bioholdings Corp. I