Intelligent Medicine Acquisition today said it will redeem shares and dissolve, being unbale to close a deal by its deadline.
The per-share redemption price is expected to be approximately $11.22.
The SPAC raised $180 million in a November 2021 ipo to focus on life science companies that are using artificial intelligence, machine learning and big data to power drug discovery.
Intelligent Medicine is led by CEO, CFO and Director Gregory Simon, who was the executive director of the White House Cancer Moonshot Task Force, a position created by former President Barack Obama and for which he was chosen by then-Vice President joe biden in March 2016. Read more.