The Life Sciences and Special Purpose Acquisition Companies (SPACs) teams advised Tango Therapeutics on its definitive merger agreement with BCTG Acquisition Corp. (Nasdaq: BCTG). The combined company is expected to receive gross proceeds of approximately $353 million at the closing of the transaction.
Tango Therapeutics is a biotechnology company committed to discovering and delivering the next generation of precision cancer medicines.
BCTG Acquisition Corp. is a special purpose acquisition company (SPAC) sponsored by Boxer Capital, a private biotechnology investment fund.
In addition to the approximately $167 million held in BCTG Acquisition Corp.’s trust account (less any redemptions), a group of healthcare investors has committed to participate in the transaction through a common stock PIPE of approximately $186 million at $10 per share. Upon closing of the transaction, the combined company will be named Tango Therapeutics, Inc., and its common stock is expected to be listed on Nasdaq under the ticker symbol “TNGX”.
The Goodwin team included Mitchell Bloom, William Collins, Laurie Burlingame, Daniel Espinoza, Katherine Hand and Katerina Stavrianidis (Corporate/SPAC), Catherine McCarty and Ioana Davies (IP), Janet Andolina, Kyle Pine and Garret Gaughan (Tax).For more details, read the press release and articles in Fierce Biotech, STAT News, and The Boston Globe.