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Phoenix Biotech Acquisition Corp

5.2

-0.7 (-11.97%)

Last Update: 15 Feb 2024 02:35:00

Yesterday: 5.85

Day's Range: 0. - 0.

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10.68

Phoenix Biotech Acquisition Corp is a special purpose acquisition company (SPAC) that was formed in 2020. Its goal is to acquire or merge with a company in the biotech, pharmaceutical, or healthcare industries. The company is listed on the NASDAQ under the ticker symbol "PBACU".

SPACs are shell companies that are created specifically to raise money through an initial public offering (IPO) with the goal of acquiring an existing company. Once the SPAC has raised funds, it has a limited amount of time to find a suitable target company to merge with or acquire.

Phoenix Biotech Acquisition Corp was founded by Dr. James Huang, a biotech entrepreneur, and is managed by Phoenix Healthcare Group, a healthcare-focused investment firm. The company raised $125 million in its IPO and is currently seeking a target company to merge with or acquire.

Note: This message is generated by artificial intelligence; it does not guarantee the accuracy of the information it contains and should not be considered as investment advice.

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