Published: December 6, 2023 at 2:16 pm ET
By Ben Glickman
TechyBird Acquisition Corp., a special purpose acquisition company, filed for an initial public offering with the Securities and Exchange Commission on Wednesday.
The blank-check company said in the filing that it is pursuing a business combination in the biotechnology and pharmaceutical sectors, targeting growth companies with…
By Ben Glickman
TechyBird Acquisition Corp., a special purpose acquisition company, filed for an initial public offering with the Securities and Exchange Commission on Wednesday.
The blank-check company said in the filing that it is pursuing a business combination in the biotech and pharmaceutical sectors, targeting growth companies with an enterprise value of $100 million to $2 billion.
TechyBird plans to offer 6 million units for $10 each. Each unit includes one share of common stock and the right to receive one-fifth of one share of common stock upon completion of the initial corporate merger.
The Company expects its shares to trade on the Nasdaq Global Market under the ticker symbol TKBD.
TechyBird said most of the proceeds from the offering would go into an escrow account, while the remaining proceeds would be used for legal and accounting fees, office space, working capital and liability insurance for directors and officers.
The company said it has one year from the completion of its offering to complete an initial business combination. However, this period can be extended by up to 12 months by depositing additional funds into his escrow account.
Write to Ben Glickman at [email protected]
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