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Genomics firms taking advantage of SPACs trend to go public faster Christie Rizk, Genomeweb
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Special-purpose acquisition companies (SPACs), once considered the province of scam artists and shady dealers, are the latest trend to hit the public markets and the scientific world as companies seek to go public more quickly and avoid some of the disadvantages of a traditional initial public offering of stock.
The trend has been pronounced in the life sciences genomic tools and diagnostics industries, where initial public offerings aren t as plentiful as some other markets, like biopharma. In February alone, four firms in the tools and molecular diagnostics industries announced that they ve decided to go public using the SPAC mechanism.