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PHOENIX BIOTECH ACQUISITION CORP. - PBAX

  • Commons

    $9.94

    +0.00%

    PBAX Vol: 0.0

  • Warrants

    $0.41

    -10.83%

    PBAXW Vol: 532.0

  • Units

    $10.09

    -0.40%

    PBAXU Vol: 313.0

Average: 0
Rating Count: 0
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SPAC Stats

Market Cap: 182.0M
Average Volume: 26.9K
52W Range: $9.71 - $10.62
Weekly %: +0.00%
Monthly %: -0.20%
Inst Owners: 1

Info

Target: Searching
Days Since IPO: 110
Unit composition:
Each unit has an offering price of $10.00 and consists of one share of our Class A common stock and one-half of one warrant
Trust Size: 15500000.0M

Management

Our directors, director nominees and executive officers are as follows: Name Age Title Chris Ehrlich 51 Chief Executive Officer and Director Daniel Geffken 63 Chief Financial Officer Douglas Fisher 45 President Brian G. Atwood 68 Director nominee Kathleen LaPorte 59 Director nominee Barbara Kosacz 63 Director nominee Caroline Loewy 55 Director nominee Chris Ehrlich has been our Chief Executive Officer and Director since June 2021 and he previously served as the Chief Executive Officer of Locust Walk Acquisition Corp. (NASDAQ: LWAC) from January 2021 to August 2021. Prior to that, Mr. Ehrlich served as Senior Managing Director and Head of Locust Walk Partners’ Global Biopharmaceutical team. Prior to joining Locust Walk Partners in 2013, Mr. Ehrlich served as a Managing Director at InterWest Partners, a venture capital firm focused on healthcare and information technology, from 2000 to 2013. At InterWest, he served on the boards of KAI Pharmaceuticals, a privately held pharmaceutical company (acquired by Amgen in 2012), Biomimetic Therapeutics, Inc., a biotechnology company (acquired by Wright Medical Technologies in 2013), InvuitY, Inc., a medical technology company acquired by Stryker in 2018) and Xenon Pharmaceuticals, a biopharmaceutical company (NASDAQ: XENE). Prior to joining InterWest, Mr. Ehrlich was the Director of Licensing and Business Development at Purdue Pharma, a private pharmaceutical firm, where he was responsible for developing a biologic oncology franchise, including in-licensing key intellectual properties, establishing and managing collaborations with biotechnology companies and leading the commercial operations of Purdue BioPharma, a biotechnology company. Prior to joining Purdue BioPharma, Mr. Ehrlich worked in business development at Genentech, a biotechnology company, in venture capital at the U.S. Russia Investment Fund, and in biotechnology strategy development at L.E.K. Consulting. Since 2014, Mr. Ehrlich has served on the Board of Directors of Prostate Management Diagnostics, Inc., a diagnostics company, on the Advisory Board of the Peter Michael Foundation, a charity focused on prostate cancer where he has been a Senior Advisor since 2012, and on the Healthcare at Kellogg Advisory Board at Northwestern University since 2019. Mr. Ehrlich has also served as a member of the board of directors of eFFECTOR Therapeutics, Inc. since August 2021. Mr. Ehrlich has a B.A. in Government from Dartmouth College and a M.B.A. from the Kellogg Graduate School of Management at Northwestern University. He is also a registered representative with FINRA, holding his Series 79, 63 and 24 licenses. Our board has determined that Mr. Ehrlich’s extensive experience in the biotechnology industry generally, as well as extensive experience in venture capital and business development, qualifies him to serve as a member of our board of directors. Daniel Geffken has been our Chief Financial Officer since June 2021 and he previously served as the Chief Financial Officer of LWAC from January 2021 to August 2021. He has been an executive in the life sciences industry since 1993. Mr. Geffken is a founder and managing director at Danforth Advisors, LLC, a management consulting firm to the life science industries, where he has served since 2011. Through Danforth, Mr. Geffken has served as Chief Financial Officer for ProMIS Neurosciences (TSX: PMN; OTCQB: ARFXF), a biotechnology company focused on the discovery and development of antibody therapeutics for neurodegenerative diseases, since March 2017, and Eloxx Pharmaceuticals, Inc. (NASDAQ: ELOX), a biotechnology company, since April 2021. He is currently chief financial officer of or consultant to various life sciences companies including Prilenia Therapeutics Development Corp., Apic Bio Inc., Myeloid Therapeutics, Calcimedica Inc., Elicio Therapeutics Inc., and Dermbiont, Inc. Since 2013, he has participated in more than 14 initial public offering, or IPO, filings and has assisted in raising more than $1 billion in debt and equity securities. Since 2019, Mr. Geffken has been a member of the board of directors of Windtree Therapeutics (NASDAQ: WINT), a biopharmaceutical company and, from May 2013 to October 2017, he was a member of the board of directors of Alcobra Ltd., a public biotechnology company 118 Table of Contents that merged with Arcturus Therapeutics, Inc. (NASDAQ: ARCT). From November 2017 until May 2018, Mr. Geffken served on the board of directors of Arcturus. Mr. Geffken holds a B.S. in Economics from The Wharton School, University of Pennsylvania, and a M.B.A. from Harvard Business School. Douglas Fisher, MD has served as our President since June 2021. He is currently a Venture Partner at Revelation Partners, which he joined in 2020, and an Executive-in Residence at InterWest Partners. Dr. Fisher joined InterWest’s healthcare team in 2009, focusing on biopharmaceutical, diagnostic and medical device investments. He is a board member of Gynesonics, Indi Molecular, Precipio Diagnostics (NASDAQ: PRPO), and WeavR Health. He is also actively involved in InterWest’s investments in PMV Pharma, Potenza Therapeutics, Sera Prognostics (NASDAQ: SERA, where he serves as the Chief Business Officer), and Tizona Therapeutics. Prior to joining InterWest, Dr. Fisher was a vice president at New Leaf Venture Partners where he spent three years focusing on biopharmaceutical, medical device, and diagnostics investments including Pearl Therapeutics, Interlace Medical (Acquired by Hologic), and Stromedix (Acquired by Biogen Idec). Prior to joining New Leaf, Dr. Fisher was a project leader with The Boston Consulting Group where he was a member of the Health Care Practice Area, consulting for leading pharmaceutical and biotech companies. Previously, Dr. Fisher worked for Centocor (a J&J operating company) in the Global Biologic Strategic Marketing Group. He received an A.B. in Economics and a B.S. in Biology, from Stanford. Dr. Fisher has a M.D. from the University of Pennsylvania School of Medicine and a M.B.A. from The Wharton School, University of Pennsylvania. Brian G. Atwood will serve as our Chairman immediately upon the effective date of this prospectus. Mr. Atwood serves as a Managing Director for Versant Ventures, a healthcare-focused venture capital firm that he co-founded in 1999. In 2015, Mr. Atwood co-founded Cell Design Labs, Inc., a biotechnology company focused on developing human cell engineering technology for the treatment of multiple diseases, including cancer, where he served as President and Chief Executive Officer until 2017, when it was acquired by Gilead Sciences. Mr. Atwood serves on the board of directors of Clovis Oncology, Inc. (NASDAQ: CLVS), and Atreca, Inc. (NASDAQ: BCEL), where he is Chairman. He also served on the board of directors of Immune Design Corp. from May 2008 until June 2016 (acquired by Merck in 2019), Veracyte, Inc., from its founding in 2008 until December 2016, OpGen Inc., from July 2007 until December 2017, Five Prime Therapeutics, from 2002 until March 2016, Cadence Pharmaceuticals, Inc. from March 2006 until its acquisition in March 2014, Helicos Biosciences from 2003 until September 2011, Pharmion Corporation from 2000 until its acquisition in March 2008, Trius Therapeutics, Inc. from February 2007 until its acquisition in September 2013 and LWAC from January 2021 until the consummation of its business combination in August 2021. Mr. Atwood holds a B.S. in Biological Sciences from the University of California, Irvine, a M.S. in Ecology from the University of California, Davis, and a M.B.A. from Harvard Business School. Mr. Atwood was selected to serve because of his experience in the biotechnology industry, his years of business and leadership experience and his financial sophistication and expertise. Kathleen LaPorte will serve as an independent director immediately upon the effective date of this prospectus. Ms. LaPorte. is an experienced executive, founder and board member, focused on life sciences. She co-founded New Leaf Ventures, served as a General Partner of The Sprout Group, and was Chief Business Officer and Chief Executive Officer of Nodality Inc. Ms. LaPorte has served on thirteen public company boards and twelve public company audit committees and numerous private company boards. Ms. Laporte currently serves as an independent director for Bolt Biotherapeutics (NASDAQ: BOLT), Precipio Diagnostics (NASDAQ: PRPO), D2G Oncology, and Elysium Therapeutics. Ms. LaPorte serves as the chair of the audit committees of both Bolt Biotherapeutics and Precipio Diagnostics. She previously served on the California Institute for Regenerative Medicine, a state agency board. Ms. LaPorte has a B.S. degree in Biology from Yale University and a M.B.A. from the Stanford University Graduate School of Business. Ms. LaPorte was selected to serve because of her experience in the biotechnology industry and for her financial expertise as a member of numerous public board audit committees. Barbara Kosacz will serve as an independent director immediately upon the effective date of this prospectus. From January 2021 to August 2021, Ms. Kosacz served as a director of LWAC. Since July 2020, 119 Table of Contents Ms. Kosacz has served as the Chief Operating Officer and General Counsel of Kronos Bio, Inc. (NASDAQ: KRON), a publicly traded clinical-stage biopharmaceutical company. Prior to that, Ms. Kosacz was a Partner at the international law firm of Cooley LLP from January 1997 to December 2000, and again from February 2002 until July 2020, where she led the international Life Sciences Practice. Ms. Kosacz has more than 25 years of experience in counseling clients in the life sciences arena, ranging from early stage startups to larger public companies, venture funds, investment banks, and non-profit institutions. She has served as a member of the BIO Emerging Companies’ Section Governing Board, is a member of the Board of Trustees of the Keck Graduate Institute, an advisory board member of Locust Walk Partners, and has been a speaker at multiple life sciences-related conferences, as well as guest lecturer at the University of California, Berkeley, Columbia University, University of Pennsylvania, and Stanford University about biotechnology law, biotechnology business models, corporate partnering negotiations and deal structures, and bioethics. Recognized by Best Lawyers in America since 2008 and most recently as Biotechnology Lawyer of the Year in 2018, Ms. Kosacz was listed as a “leading lawyer” for healthcare and life sciences in the 2018 Legal 500, as a “Band 1” attorney in the 2018 edition of Chambers USA: America’s Leading Lawyers for Business and recognized as a “highly recommended transactions” lawyer by IAM Patent 1000 for her “nearly three decades advising diverse companies in the industry at a deeply strategic and commercial level and overseeing their most complex and profitable deals.” Ms. Kosacz is currently a member of the board of directors of XOMA Corp. (NASDAQ: XOMA), a royalty aggregation company, and Athira Pharma, Inc. (NASDAQ: ATHA), a late-clinical stage biotechnology company. Ms. Kosacz received her received B.A. from Stanford University and her J.D. from the University of California, Berkeley School of Law. Ms. Kosacz was selected to serve on our board due to her extensive experience in the life sciences industry and advising biotechnology companies. Caroline Loewy will serve as an independent director immediately upon the effective date of this prospectus. Ms. Loewy serves on public company boards, provides strategic advisory services to life science companies, and has more than 25 years of experience in the biopharmaceutical industry. From January 2021 to August 2021, Ms. Loewy served as a director of LWAC. She co-founded and served as Chief Financial Officer and Chief Business Officer of Achieve Life Sciences, Inc., a specialty pharmaceuticals company, from 2015 to 2017. Prior to Achieve Life Sciences, she served as Chief Financial Officer of several life sciences companies, including Tobira Therapeutics, Inc. from 2012 to 2014, Corcept Therapeutics Inc. from 2008 to 2011 and Poniard Pharmaceuticals, Inc. from 2006 to 2008. Prior to that, Ms. Loewy was a senior biotechnology equity research analyst at Morgan Stanley, Inc. from 2000 to 2004 and Prudential Securities, Inc. from 1996 to 1999. She began her career as a financial analyst at BankAmerica Corporation. Ms. Loewy is a founding board member of the Global Genes Project and a member of the Steering Committee of the Forum for Collaborative Research in Rare Diseases. She is also a founding board member of the KCNQ2 Cure Alliance Foundation. Ms. Loewy currently serves on the boards of directors of, Zogenix, Inc., CymaBay Therapeutics Inc., Aptose Biosciences Inc. and PhaseBio Pharmaceuticals, Inc. Ms. Loewy holds a B.A. from the University of California, Berkeley, and a M.B.A./M.S. degree from Carnegie Mellon University. Ms. Loewy was selected to serve on our board based on her financial expertise as a former chief financial officer as well as her extensive experience in the biopharmaceutical industry. Advisors Ryan Gilbert, an advisor, brings over 20 years of global financial services expertise as an entrepreneur, angel investor, venture investor, and advisor. His public company exits include Square and Eventbrite. Mr. Gilbert previously served as an advisor to LWAC and currently serves as the President and Chief Executive Officer of FTAC Parnassus Acquisition Corp. (NASDAQ: FTPA) and FTAC Zeus Acquisition Corp., each a blank check company formed for the purpose of effecting its own initial business combination. He was most recently President and Chief Executive Officer of FTAC Olympus Acquisition Corp., which merged with Payoneer (NASDAQ: PAYO). Mr. Gilbert is founder and General Partner of Launchpad Capital, a venture capital fund. He was most recently a General Partner at Propel Venture Partners, a venture capital fund backed by BBVA Group. He currently serves on the boards of directors of Propel Venture Partners portfolio companies Charlie Finance Co., Guideline, Inc., Grabango Co. and Steady Platform Inc. Mr. Gilbert serves as the executive chairman of SmartBizLoans, a small business lending marketplace that he co-founded as an entrepreneur-in-residence at Venrock. Mr. Gilbert is an 120 Table of Contents independent director of bKash, Bangladesh’s largest remittance and mobile banking platform, and a director of River City Bank, a $3.2 billion community bank based in Sacramento, CA. He was previously co-founder and Chief Executive Officer of real estate payments company PropertyBridge (acquired by MoneyGram International) . Mr. Gilbert graduated from the University of the Witwatersrand in Johannesburg, South Africa. Shami Patel, an advisor, is a Managing Director of the Asset Management Group of Cohen & Company Inc., a financial services company. Mr. Patel previously served as Chief Operating Officer of FTAC Olympus and as an advisor to LWAC and as an advisor to FinServ, a blank check company which raised $250.0 million in its initial public offering in November 2019 and consummated its business combination in June 2021. Mr. Patel was also active in all aspects of the IPO and business combination process of FinTech I and FinTech II, including origination, due diligence and execution. He served as a Director, Chair of the Audit Committee and member of the Compensation Committee of FinTech I and FinTech II. FinTech I raised $100.0 million in its IPO in February 2015 and completed its initial business combination when it acquired FTS Holding Corporation in July 2016, in connection with which FinTech I changed its name to CardConnect Corp. The common stock of CardConnect Corp. was traded on the Nasdaq Capital Market under the symbol “CCN” until CardConnect Corp. was acquired by First Data Corporation in July 2017. FinTech II raised $175.0 million in its IPO in January 2017 and completed its initial business combination when it acquired Intermex Holdings II in July 2018, in connection with which FinTech II changed its name to International Money Express, Inc. The common stock of International Money Express, Inc. is currently traded on the Nasdaq Capital Market under the symbol “IMXI.” He also served as an advisor to FinTech III, a blank check company which raised $345.0 million in its IPO in November 2018 and completed its initial business combination when it merged with affiliates of Paya, Inc. in October 2020, in connection with which Paya Holdings Inc. became publicly traded on the Nasdaq Capital Market under the symbol “PAYA.” Mr. Patel has a B.A. in Philosophy and Economics from Trinity University and a J.D. and M.B.A from Duke University. We currently expect our advisors and any additional advisors we may engage to (i) assist us in sourcing and negotiating with potential business combination targets, (ii) provide their business insights when we assess potential business combination targets and (iii) upon our request, provide their business insights as we work to create additional value in the businesses that we acquire, which, in the case of (iii), will fulfill some of the same functions as our board members. However, they have no written advisory agreement with us. Additionally, except as disclosed under “Principal Stockholders” and “Certain Relationships and Related Party Transactions,” our advisors have no other employment or compensation arrangements with us. Moreover, our advisors will not be under any fiduciary obligations to us nor will they perform board or committee functions, nor will they have any voting or decision making capacity on our behalf. They will also not be required to devote any specific amount of time to our efforts or be subject to the fiduciary requirements to which our board members are subject. Accordingly, if any of our advisors becomes aware of a business combination opportunity which is suitable for any of the entities to which he has fiduciary or contractual obligations, including other blank check companies, he will honor his fiduciary or contractual obligations to present such business combination opportunity to such entity, and only present it to us if such entity rejects the opportunity. We may modify or expand our roster of advisors as we source potential business combination targets or create value in businesses that we may acquire. Number and Terms of Office of Officers and Directors Our board of directors is divided into two classes with only one class of directors being elected in each year and each class (except for those directors appointed prior to our first annual meeting of stockholders) serving a two-year term. The term of office of the first class of directors, consisting of, Brian G. Atwood and Katherine LaPointe, will expire at our first annual meeting of stockholders. The term of office of the second class of directors, consisting of Chris Ehrlich, Caroline Loewy and Barbara Kosacz, will expire at the second annual meeting of stockholders. Collectively, through their positions described above, our officers and directors have extensive experience in life sciences industries. These individuals will play a key role in identifying and evaluating prospective acquisition candidates, selecting the target businesses, and structuring, negotiating and consummating their acquisition. 121 Table of Contents Director Independence Nasdaq rules require that a majority of the board of directors of a company listed on Nasdaq must be composed of “independent directors.” An “independent director” is defined generally as a person other than an officer or employee of the company or its subsidiaries or any other individual having a relationship, which, in the opinion of the company’s board of directors, would interfere with

Holder Stats

1 0
% of Shares Held by All Insider 0.00%
% of Shares Held by Institutions 5.64%
% of Float Held by Institutions 5.64%
Number of Institutions Holding Shares 1

SEC Filings

Form Type Form Description Filing Date Document Link
10-Q 10-Q 2021-11-19 https://www.sec.gov/Archives/edgar/data/1870404/000119312521335132/d198244d10q.htm
SC 13G PHOENIX BIOTECH ACQUISITION CORP. 2021-10-22 https://www.sec.gov/Archives/edgar/data/1870404/000090266421004578/p21-2339sc13g.htm
SC 13G 2021-10-18 https://www.sec.gov/Archives/edgar/data/1870404/000093583621000577/phoenixbiotech13g.htm
SC 13G SCHEDULE 13G 2021-10-18 https://www.sec.gov/Archives/edgar/data/1870404/000121390021053216/ea148962-13gcantor_phoenix.htm
8-K 8-K 2021-10-15 https://www.sec.gov/Archives/edgar/data/1870404/000119312521300071/d564865d8k.htm
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039943/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039941/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039940/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039938/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039936/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039932/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039931/xslF345X03/doc4.xml
4 FORM 4 SUBMISSION 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039928/xslF345X03/doc4.xml
8-K 8-K 2021-10-12 https://www.sec.gov/Archives/edgar/data/1870404/000119312521296921/d229488d8k.htm
424B4 424B4 2021-10-08 https://www.sec.gov/Archives/edgar/data/1870404/000119312521294397/d198272d424b4.htm
EFFECT 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/999999999521003784/xslEFFECTX01/primary_doc.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039298/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039297/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039295/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039294/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039290/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039287/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039284/xslF345X02/doc3.xml
3 FORM 3 SUBMISSION 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000089924321039278/xslF345X02/doc3.xml
CERT 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000135445721001122/8A_Cert_PBAX.pdf
8-A12B 8-A12B 2021-10-05 https://www.sec.gov/Archives/edgar/data/1870404/000119312521291626/d236002d8a12b.htm
CORRESP 2021-10-01 https://www.sec.gov/Archives/edgar/data/1870404/000119312521289716/filename1.htm
CORRESP 2021-10-01 https://www.sec.gov/Archives/edgar/data/1870404/000119312521289638/filename1.htm
S-1/A AMENDMENT NO. 2 TO FORM S-1 2021-09-28 https://www.sec.gov/Archives/edgar/data/1870404/000119312521285049/d198272ds1a.htm
S-1/A AMENDMENT NO. 1 TO FORM S-1 2021-09-21 https://www.sec.gov/Archives/edgar/data/1870404/000119312521278331/d198272ds1a.htm
S-1 S-1 2021-09-13 https://www.sec.gov/Archives/edgar/data/1870404/000119312521271453/d198272ds1.htm
UPLOAD 2021-07-27 https://www.sec.gov/Archives/edgar/data/1870404/000000000021009227/filename1.pdf
DRS 2021-07-08 https://www.sec.gov/Archives/edgar/data/1870404/000095012321008524/filename1.htm