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Bloomberg
SPAC-on-SPAC deal collapses, so does Immunovant stockpile
(Bloomberg) – A private drugmaker has derailed plans to buy back its own high-priced PSPC, pushing shares of Immunovant Inc. to an all-time low. The withdrawal of Roivant Sciences Ltd. unwinds part of its IPO plan by selling to a specialist acquisition company and then using the proceeds to buy out full ownership of Immunovant, which it merged into another SPAC in 2019. The shares Immunovant, which topped $ 53 last year, closed down 26%. Instead, Roivant said in a
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