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Hong Kong Genetic testing startup Prenetics is going public through a $1.7 billion SPAC deal

September 16, 2021
Source: techstartups.com techstartups.com
News Snapshot:
Prenetics , a Hong Kong-based genetic testing startup, is going public through a merger with Artisan Acquisition — a special purpose acquisition company (SPAC) — in a deal that will value the combined entity at $1.7 billion, the two companies announced Thursday. The Jack Ma-backed company hopes to generate up to $459 million in cash proceeds from the merger, which the company plans to spend on strategic acquisitions, geographical expansion, and research and development. The combined company is expected to be traded on the Nasdaq under a new ticker symbol PRE. We wrote about Prenetics in 2018 after the 12-year...
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