NEW YORK, Oct. 3, 2019 /PRNewswire/ -- Chardan, a global
investment bank, announced today that the firm acted as M&A and
Capital Markets Advisor for Health Sciences Acquisitions
Corporation's (NASDAQ: HSAC) definitive share exchange agreement
("SEA") with Immunovant Sciences Ltd. ("Immunovant"), a
clinical-stage biopharmaceutical company focused on enabling normal
lives for patients with autoimmune diseases.
On May 10, 2019, Chardan acted as
lead book runner in the initial public offering of HSAC, a special
purpose acquisition company sponsored by RTW Investments. Chardan
raised aggregate gross proceeds of $115
million, including exercise of the over-allotment for the
IPO.
"HSAC is a unique SPAC in that it has been majority held by
healthcare-sector investors since IPO. Supported by that dynamic,
RTW leveraged its team's deal expertise, relationships and capital
commitments to identify and attract a first class IPO-ready biotech
asset in just over four months. The result is a deal anchored by a
number of thought leading funds, including both original HSAC
holders and new participants," said George
Kaufman, Partner and Head of Investment Banking at
Chardan.
Jonas Grossman, President of
Chardan, added, "This merger highlights the value and flexibility
that SPACs provide as a financing alternative for growing biotech
companies. It's exciting to see Chardan's strength in SPACs and the
life sciences come together meaningfully."
In addition to advising HSAC, Chardan recently sponsored its own
healthcare-focused SPAC, Chardan Healthcare Acquisition Corp.
(NYSE: CHAC). After a successful IPO in December 2018 in which Chardan raised aggregate
gross proceeds of $70 million, CHAC
announced in July 2019 a merger
agreement with BiomX Ltd., a microbiome company developing both
natural and engineered phage therapies.
Chardan has participated in more than 15 transactions
year-to-date, helping companies raise more than $1.1 billion in capital, and has advised on
mergers with value exceeding $1.0
billion.
About Chardan
Chardan is an independent global
investment bank specializing in healthcare, SPACs and emerging
growth companies. Our range of services include capital raising,
merger and acquisition advisory, strategic advisory, equity
research, corporate access and institutional trading. Headquartered
in New York City, Chardan is a
registered broker-dealer with the U.S. Securities and Exchange
Commission and is a member of the following: FINRA, SIPC, NASDAQ
and the NYSE Arca, Inc.
Learn more about Chardan: www.chardan.com
Media Contact:
Emily
Levine, Chardan
elevine@chardan.com
(646) 465-9018
Robert Klemens, Prosek
Partners
rklemens@prosek.com
(646) 818-9009
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SOURCE Chardan Capital Markets, LLC