Full Press Release Details
Chardan Advises Health
Sciences Acquisitions Corporation on Merger with Immunovant
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.
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
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.
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."
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.
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.
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.
Chardan: www.chardan.com
Emily Levine, Chardan