IPO for SPAC CM Life Sciences III (CMLT) Opens at $11

April 7, 2021 10:27 AM EDT

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Today's IPO for SPAC CM Life Sciences III Inc. (NASDQ: CMLT) (NASDAQ: CMLTU) opened for trading at $11 after pricing 48,000,000 units at $10.00 per unit.

The Company, sponsored by affiliates of Casdin Capital, LLC and Corvex Management LP, is led by Chief Executive Officer Eli Casdin and Chairman Keith Meister. The Company is a blank check company formed for the purpose of effecting a business combination. The Company intends to focus its search for business combination targets in three separate areas of the life sciences industry that are often fragmented – life sciences tools, synthetic biology and diagnostics.

Jefferies LLC and Cowen and Company, LLC are serving as the joint book runners for the offering.

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Jefferies & Co, Cowen & Co, Corvex Management, IPO, SPAC