Omega Alpha SPAC (OMEG) Prices Upsized $120M IPO

Omega Alpha SPAC announced the pricing of its upsized $120 million IPO this evening and its shares are expected to begin trading on the Nasdaq under the symbol “OMEG” Thursday, January 7.

The new company aims to combine with a biotechnology business that has compelling data and rigorous science in place for a drug candidate. Omega Alpha is led by Chairman and CEO Otello Stampacchia, President Michelle Doig and CFO Francesco Draetta alongside Chief Science Officer Vincent Ossipow.

Total SPAC deal count for 2021 year-to-date is now eight with $1.7 billion in gross proceeds raised. This offering is expected to close on Monday, January 11.

Jefferies LLC and Morgan Stanley & Co. LLC are acting as joint book-running managers for the offering. Goodwin Procter LLP is serving as Issuer’s Counsel with White & Case LLP serving as Underwriter’s Counsel. WithumSmith+Brown, PC serves as auditor. Continental Stock Transfer & Trust Company LLC is acting as trustee.