SUBSCRIBE Log In | Sign Up

IPO Profile

Therapeutics Acquisition Corp. (TXAC)

Offer Price
$10.00
Offer Size
11,800,000
3-Year Outlook
Positive
Volatility
High
First Day Turnover
4.13%

Description

We are a newly organized blank check company incorporated on April 15, 2020 as a Delaware corporation formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. To date, our efforts have been limited to organizational activities as well as activities related to this offering. We have not selected any specific business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target. We have generated no operating revenues to date and we do not expect that we will generate operating revenues until we consummate our initial business combination.

While we may pursue an acquisition opportunity in any business, industry, sector or geographical location, we intend to focus on industries that complement our management team's background, and to capitalize on the ability of our management team to identify and acquire a business focusing on the healthcare industry, with an emphasis on the biotechnology sector where our management has extensive investment experience. 

Our sponsor is an affiliate of RA Capital, a leading life sciences focused investment firm with over $4 billion of regulatory assets under management as of May 1, 2020. Since its launch in 2002, RA Capital has focused exclusively on the healthcare industry. Peter Kolchinsky, PhD, our founding Chairman and Chief Executive Officer, founded RA Capital, where he is a Managing Partner. Matthew Hammond, PhD, our founding Chief Financial Officer and Director, is a Principal on the investment team at RA Capital.

RA Capital's investment activity is focused on identifying both private and public companies in the healthcare and life science sectors that are developing drugs, medical devices, and diagnostics. The team at RA Capital consists of over 75 professionals including 30 who hold PhD and/or MD degrees. RA Capital's deep bench enables its substantial search and evaluation efforts. Last year alone, RA Capital met with over 900 private companies and over 400 public companies, and it is keeping up this pace (by video and telephone conference) even while its employees are working from home. RA Capital's deep scientific expertise is brought to bear in its TechAtlas team, charged with mapping out competitive landscapes in therapeutic areas of interest and providing the investment team and portfolio companies with strategic intelligence, market research, and other resources for due diligence. The TechAtlas maps contextualize expansive and complex data sets and competitive landscapes, allowing RA Capital's investment team to act quickly when opportunities arise. By way of example, in May 2020, RA Capital invested in a company working on a potential treatment for COVID-19, based on insights generated from its recently created COVID-19 map. In assessing valuation and business viability of potential investments, RA Capital leverages its extensive proprietary databases and case studies covering basic scientific analyses, clinical trial designs and outcome measures, partnership structures, public market dynamics, and other factors.

RA Capital invests across the capital structure and throughout a company's growth cycle, which provides access to a broad universe of management teams and companies seeking flexible capital solutions. RA Capital was one of the first public-oriented investors participating in pre-IPO financing rounds, now commonly referred to as "crossovers." RA Capital has been one of the most active participants in crossover financings since this model for pre-IPO financing became prominent in 2012. 
 

Investors Pre-IPO Holdings (%)
Google Ventures 30
Intel Ventures 20
Patricoff Ventures 5
Kleiner Perkins 18

Deal Highlights

Deal Tracker

Filing Date   07 Jul, 2020
Price Date   08 Jul, 2020
Offer Price $10.00
Offer Size 11M
Look Up Expiry Date   08 Jan, 2021
Earnings Release Date   Nov 1, 2018