Biotech Acquisition Company Announces Liquidation

Feb 02, 2023

New York, New York, Feb. 01, 2023 (GLOBE NEWSWIRE) -- Biotech Acquisition Company (the “Company”) (Nasdaq: BIOT), announced today that it will not implement the extension of the time period the Company has to complete an initial business combination as approved by its shareholders at an extraordinary general meeting of shareholders held on January 19, 2023 as a result of the investor being unable to deposit the requisite funds into the Company's trust account ("Trust Account") for the extension. As a result, the Company will dissolve and liquidate in accordance with the provisions of its Amended and Restated Memorandum and Articles of Association, as amended (the “Charter”) and will redeem all of the outstanding ordinary shares that were included in the units issued in its initial public offering (the “Public Shares”), at a per-share redemption price of approximately $10.15.

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