Biotech company PrimeGen to go public through $1.5 billion SPAC deal
Biotechnology company PrimeGen US announced on Wednesday that it will go public in the United States through a $1.5 billion deal with blank check company DT Cloud Star Acquisition.
The transaction is expected to be completed in the second half of 2026. The merged company will operate under the name PrimeGen US and plans to be listed on the Nasdaq Stock Exchange.
This deal comes at a time when companies are showing renewed interest in going public through Special Purpose Acquisition Company (SPAC) mergers, viewing it as an alternative to traditional IPOs.
SPACs operate as shell companies, raising capital through an initial public offering (IPO) and subsequently merging with a privately held company to take it public.
PrimeGen is a biotechnology company focused on the development of stem cell therapies, primarily targeting treatments for acute liver injury and related critical illnesses.
Editor: Guo Mingyu
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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