April 2021
BCTG Acquisition Corp.
Canaccord Genuity Acts as Financial Advisor to BCTG Acquisition Corp. on Merger with Tango Therapeutics
Canaccord Genuity is pleased to announce that on April 14, 2021, Tango Therapeutics, a biotechnology company committed to discovering and delivering the next generation of precision cancer medicines, and BCTG Acquisition Corp. (Nasdaq: BCTG), a special purpose acquisition company (SPAC) sponsored by Boxer Capital have entered into a definitive merger agreement. Upon closing of the transaction, the company will be named Tango Therapeutics, Inc. (Combined Company).
Current Tango shareholders are converting 100% of their existing equity interests into common stock of the Combined Company. In addition to the approximately $167 million held in the BCTG trust account (less any redemptions), an additional group of premier healthcare investors has committed to participate in the transaction through a common stock PIPE of approximately $186 million at $10.00 per share.
The Combined Company is expected to receive gross proceeds of approximately $353 million at the closing of the transaction.
Current Tango shareholders are converting 100% of their existing equity interests into common stock of the Combined Company. In addition to the approximately $167 million held in the BCTG trust account (less any redemptions), an additional group of premier healthcare investors has committed to participate in the transaction through a common stock PIPE of approximately $186 million at $10.00 per share.
The Combined Company is expected to receive gross proceeds of approximately $353 million at the closing of the transaction.
