Arbor Rapha Capital Bioholdings Corp. I (the “Company”) (NASDAQ: ARCKU) announced on November 2, 2021, the closing of its initial public offering of 17,250,000 units at $10.00 per unit ($172.5 million), including 2,250,000 units issued pursuant to the exercise by the underwriters of their over-allotment option in full.
The units are listed on The Nasdaq Global Market (“Nasdaq”) and began trading under the ticker symbol “ARCKU” on October 29, 2021. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. The securities comprising the units, shares of Class A common stock and redeemable warrants, are listed on Nasdaq under the symbols “ARCK” and “ARCKW,” respectively.
The Company was founded by Arbor Rapha Capital, LLC. The Board of Directors includes Ivan Kaufman, Kevin Slawin, M.D., Cyrus Walker, Avery Modlin and Ralph Mack. Company is a SPAC, or “blank check” company, formed for the purpose of effecting a merger, a capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.”
We intend to capitalize on our management team’s experience and expertise to identify unique acquisition opportunities in the biopharmaceutical sector, with a focus on disruptive technologies with the potential to transform healthcare and dramatically improve the lives of patients.
We believe our ability to complete our business combination will be enhanced by our sponsor’s affiliation with Rapha Capital Management, LLC and RNA Advisors, LLC