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Conyers advises Roivant Sciences Ltd., on its business combination by merger of a subsidiary with Montes Archimedes Acquisition Corp.

Conyers is advising Roivant Sciences Ltd., in its business combination by merger of a subsidiary with Montes Archimedes Acquisition Corp. (MAAC) to combine and create publicly traded Biopharma and Health Technology company.

The transaction includes US$411 million in trust at MAAC and a concurrent, fully committed US$200 million PIPE financing from leading healthcare investors including Fidelity Management & Research Company LLC, Eventide Asset Management, Suvretta Capital, RTW Investments, LP, Viking Global Investors, and SB Management, a subsidiary of SoftBank Group Corp., as well as strategic investors including Sumitomo Dainippon Pharma and Palantir Technologies.

A pro forma net cash position of up to US$2.3 billion following transaction will enable strategic pipeline expansion through internal drug discovery and in-licensing, continued development of wholly-owned drugs, and commercialization

Following the completion of the business combination, which is anticipated in Q3 2021, shares in Roivant are expected to trade on Nasdaq under the ticker symbol “ROIV” with a valuation in the region of US$7.3 Billion.

 


Neil Henderson
Director

Bermuda   +1 441 298 7846



Sophia Collis
Associate

London   +44 (0)207 562 0345


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