Intelligent Medicine Acquisition priced its upsized IPO of 18 million units at $10 each, an increase of 3 million units more than initially registered for the offering last month. Units begin trading today on the Nasdaq under IQMDU. Each consists of one share and one-half of a warrant.
Once the securities begin separate trading, shares and warrants are expected to list under IQMD and IQMDW. The offering is expected to close Nov. 9.
Intelligent Medicine intends to focus on life science companies that are using artificial intelligence, machine learning and big data to power drug discovery.
Cantor is sole book-running manager for the offering. The manager has the option to purchase up to an additional 2.7 million units to cover any over-allotments. Read more.
