BCTG Acquisition Corp.
BCTG · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The purchase completed and the shares became shares in the company it bought. There is no deadline left to miss.
Cash at settlement
No cash-per-share figure was filed for this vehicle before it finished.
Last close
Daily close
No price history on file yet — daily closes accumulate from the market data feed.
Trust settled · There is no line to draw here. This vehicle has finished: the cash was paid back or spent closing the deal, so the last filed figure describes an account that no longer exists and would be a floor under nothing.
SpacBrain’s read
Trust settled
The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
In plain terms
- What it is
- A SPAC from BCTG Holdings, LLC, listed on Nasdaq in September 2020.
- What it's doing now
- It agreed to buy Tango Therapeutics, Inc., an oncology therapeutics development company. That purchase completed, and it stopped being a SPAC — the shares became shares in the business it bought.
- What you should know
- This SPAC has finished. The purchase completed, and the shares became shares in the company it bought — anyone who wanted the cash instead asked for it at the vote, so there is no cash left here to claim and no deadline left to miss.
At a glance
- Where it stands
- Closed (deSPAC)
- The business it bought
- Tango Therapeutics, Inc. — Therapeutics Tango Therapeutics is a biotechnology company dedicated to discovering novel drug targets and delivering the next generation of precision medicine for the treatment of cancer.
- Industry
- Health Care — oncology therapeutics development
- Deal value
- not stated in the filings we hold
- Price vs cash at settlement
- no live price on file
- Cash in trust when it settled
- not yet extracted into a snapshot — the filings below may state it
- the last trust total filed while this was still a SPAC — the account has since been paid out or used to close the deal
- IPO
- 4 September 2020
- size not on file
- Headquarters
- 201 BROOKLINE AVENUE, BOSTON, MA, 02215
- registered in Delaware
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Crystal Adam (President, R&D) · Azelby Robert (Director) · Ketchum John B (Director)
- Listed securities
- BCTG common
This vehicle has finished, so there is no window to file a cash-per-share figure for and none will follow. No estimate is shown in its place.
Nothing dated is on file. That is an absence in the record, not a statement that nothing is coming.
Yield to redemption
Nothing left to redeem — no yield to compute.
This SPAC has finished — its trust was paid back or used to close the deal, so there is nothing left to redeem and no yield to compute. A yield to redemption is a claim that you can hand these shares back for the trust cash. That account is closed, so this page will not print a number here.
What happened to the cash
The reasoning behind the verdict above, in the order the filings establish it.
- The deal closed — SPAC shares became the target's shares, so there is no trust left to redeem (nobody missed a window; holders who wanted cash elected it at the vote).
What has happened, and what is coming
1 dated milestoneEvery dated step from the day it listed to the next date you may have to act on. Where you have to do something, the day your broker needs the instruction is marked too.
- 4 September 2020IPOpassed
IPO size not on file
The deal
terms as filedWhat it is buying, on what terms, and how much of the combined company new shares take from you.
- closedHealth Care
What Tango Therapeutics, Inc. does — read from tangotx.com on 26 August 2026
Tango Therapeutics leverages the principle of synthetic lethality to develop medicines that take direct aim at specific tumors. Using an approach that starts and ends with patients, they are expanding the reach of genetically targeted therapies.
201 Brookline Ave, Suite 901, Boston, MA 02215BiotechnologyPharmaceuticalsDeal structureSEC-primary — BCA 8-K / S-4 / DEFM14A- PIPE
- ≈ $186M · unsourced
- Min-cash condition
- $300M
PIPE terms — instrument, coupon, conversion price and any reset floor — are not sourced for this deal. The size above is itself unsourced — a stored figure no filing we hold states — so neither the size nor the terms should be read as cited.
stated in:0001213900-21-022195
The score
deterministic, from filed fieldsBCTG is not in the scored universe, so no score is shown. A withheld score is a fact about the record, not a verdict about the company.
The score is only published for names that carry both a price and a filed cash-per-share figure — 292 of the tracked fleet today. The rest keep an empty dial rather than a modelled one, and fill in by themselves as the fields land.
The company
from SEC filingsRead the full profile
BCTG Acquisition Corp. was a blank-check company whose common stock traded on the Nasdaq Stock Market under the ticker BCTG. The company priced its initial public offering on September 4, 2020, under SEC file number 333-240237, an S-1 registration of shares sold for cash, and was classified under SEC SIC industry code 2834 (Pharmaceutical Preparations). The registrant described itself as a blank-check company in its 424B4 prospectus filed September 4, 2020. On August 13, 2021, the company filed an 8-K reporting a change in shell company status under item 5.06, establishing that it had completed a business combination and the vehicle no longer files. EDGAR now lists SEC CIK 0001819133 under the name Tango Therapeutics, Inc.
Material findings
from the full read of every filingEvery document this company files gets read whole — body and exhibits. These are the ones the read flagged as material, newest first, each citing its filing.
The at-the-market capacity rises from about $35.6 million remaining to $400 million in total, roughly a fourfold increase on the original programme — dilution capacity the company can draw on at its sole discretion without a further shareholder vote. The $64.4 million already sold is disclosed on the record.
The significant cash increase and strong Phase 1/2 data position Tango for late-stage clinical development of vopimetostat in pancreatic cancer, with Phase 3 trial design expected in 2H 2026. The company's cash runway supports planned development and commercialization preparation.
...
This is a post-close leadership departure at the former BCTG target, indicating a governance transition. The structured separation package suggests an amicable, pre-planned exit rather than a dispute-driven departure.
For a post-de-SPAC company, board expansion with an independent director who joins both the compensation and nominating committees strengthens the governance profile that public shareholders inherited from the SPAC structure. The disclosed option exercise price of $27.97 is a dated reference point for where the shares traded on June 19, 2026, which is useful context for anyone tracking the company's performance since the business combination. No financial results or transactions are reported.
The $53,726.23 is a Rule 457(f)(2) construct rather than a valuation: Tango is private, no market exists for its securities and it has an accumulated deficit, so the price is one-third of the aggregate par value of the Tango securities to be exchanged, including securities issuable on exercise of options. The figure that carries meaning is 55,000,000 — the shares issuable to Tango's stockholders and equity plan participants, and the ceiling on dilution for a BCTG holder who does not redeem.
Show 3 more material filings
The registered ceiling has not moved across two amendments, so 55,000,000 shares remains the measure of dilution for a BCTG holder who does not redeem. The $53,726.23 is a Rule 457(f)(2) construct — Tango is private, no market exists for its securities and it has an accumulated deficit — computed as one-third of the aggregate par value of the Tango securities expected to be exchanged, including securities issuable on the exercise of options. It is not a valuation of the target and should not be read as one.
55,000,000 shares is the ceiling on dilution for a BCTG holder who does not redeem, and it already includes shares for Tango's equity plan participants rather than leaving them as a separate overhang. The $53,726.23 is a Rule 457(f)(2) construct — Tango is private, no market exists for its securities and it has an accumulated deficit, so the price is one-third of the aggregate par value of the securities to be exchanged — and carries no information about what the business is worth.
The $53,726.23 is a Rule 457(f)(2) construct rather than a valuation: Tango is private, no market exists for its securities and it has an accumulated deficit, so the proposed maximum aggregate offering price is one-third of the aggregate par value of the Tango securities expected to be exchanged, including securities issuable on exercise of options. The figure that carries meaning is 55,000,000 — the shares issuable to Tango's stockholders and equity plan participants, and therefore the ceiling on dilution for a BCTG holder who does not redeem.
Filings
live EDGAR feedEverything this company has filed with the SEC recently, newest first, each with a plain summary of what changed and why it matters.
Show the other 10 filings
What changed: Tango Therapeutics, Inc. (Nasdaq: TNGX) reported under Item 8.01 that it has expanded its at-the-market equity program under the November 21, 2025 sales agreement with Leerink Partners. The prior prospectus supplement covered up to $100,000,000 of common stock, of which approximately $64,389,566 has been sold to date and approximately $35,610,434 remains unsold. Why it matters: The at-the-market capacity rises from about $35.6 million remaining to $400 million in total, roughly a fourfold increase on the original programme — dilution capacity the company can draw on at its sole discretion without a further shareholder vote. The $64.4 million already sold is disclosed on the record.
What changed: Tango Therapeutics reported Q2 2026 results with $1.0B cash position as of June 30, 2026, up from $399M at year-end 2025, and a net loss of $55.3M ($0.37/share) for the quarter. The company reported positive Phase 1/2 data showing 92% ORR for vopimetostat plus daraxonrasib in MTAP-deleted pancreatic cancer and plans to advance to Phase 3. Why it matters: The significant cash increase and strong Phase 1/2 data position Tango for late-stage clinical development of vopimetostat in pancreatic cancer, with Phase 3 trial design expected in 2H 2026. The company's cash runway supports planned development and commercialization preparation.
What changed: ... Why it matters: ...
What changed: BCTG Acquisition Corp. filed an 8-K/A on 2026-08-07 disclosing a separation agreement between Tango Therapeutics and Executive Chairman Barbara Weber, effective 2026-08-06, with severance benefits and continuing obligations. Why it matters: This is a post-close executive departure at the combined company, with no impact on trust value, redemption deadlines, or SPAC mechanics; it is purely an employment/separation matter.
What changed: Dr. Barbara Weber's employment as Executive Chair of Tango Therapeutics ended on August 3, 2026, per her Employment Agreement dated January 8, 2026, with resignation from all officer and board positions. The company offered severance through December 31, 2026, COBRA reimbursement, 12-month equity vesting acceleration, and extended option exercise to August 3, 2027. Why it matters: This is a post-close leadership departure at the former BCTG target, indicating a governance transition. The structured separation package suggests an amicable, pre-planned exit rather than a dispute-driven departure.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
BCTG Holdings, LLCnamed as sponsor in this SPAC’s filings — but with no researched track record behind it yet.
A missing score, not a score of zero — why
A Sponsor Score is only published once the sponsor’s prior vehicles have been verified on EDGAR and their post-close outcomes priced. That record does not exist for this sponsor yet, so no number and no tier is shown. That is a missing score, not a score of zero — and not a neutral 50 either.
Coverage so far: 301 of 1284 tracked SPACs (23%) are attached to a scored sponsor. This card fills in by itself as the research lands.
The record
The reference detail — how the shares were structured at listing, how thinly they trade, and where the company is registered.
Show the reference detail
Unit structure
from 424B3 0000950170-22-016514
Trading & liquidity
Company profile
Directors & officers
- Crystal AdamPresident, R&D
- Azelby RobertDirector
- Ketchum John BDirector
- Calhoun Lesley AnnDirector
- Rothenberg MaceDirector
- Lee SungDirector
Institutional holders
from SC 13G/13DFunds that have declared a stake above 5%. Heavy ownership by arbitrage funds usually means heavy cash-outs at the next vote.
Show the declared stakes
13 filers with a stake on file · 0 re-affirmed in the last 12 months. A stake with no amendment since is the filer’s last word on it, not proof it is still held — and percentages filed in different years are percentages of different floats, because this vehicle’s share count collapses at every redemption.
- Third Rock Ventures IV, L.P.with 2 other reporting persons on the same schedule15.9% · SC 13D/ASep 4, 2024 stale
- EcoR1 Capital, LLCwith 2 other reporting persons on the same schedule13.1% · SC 13G/AOct 16, 2023 stale
- TCG Crossover GP II, LLCwith 2 other reporting persons on the same schedule9.8% · SC 13GNov 20, 2024 stale
- FMR LLCwith 1 other reporting person on the same schedule9.6% · SC 13G/AFeb 9, 2024 stale
- Boxer Capital Management, LLCwith 3 other reporting persons on the same schedule6.5% · SC 13D/ANov 7, 2024 stale
- Nextech Crossover I GP S.a r.l.with 4 other reporting persons on the same schedule5.4% · SC 13GAug 21, 2023 stale
- Southpoint Capital Advisors LPwith 3 other reporting persons on the same schedule4.9% · SC 13G/AApr 8, 2024 stale
- Cormorant Asset Management, LPwith 5 other reporting persons on the same schedule4.7% · SC 13G/AFeb 14, 2023 stale
- RA CAPITAL MANAGEMENT, L.P.with 3 other reporting persons on the same schedule2.6% · SC 13G/AFeb 14, 2022 stale
- Boxer Asset Management Inc.with 2 other reporting persons on the same schedule0.1% · SC 13D/AOct 15, 2024 stale
- Boxer Capital, LLC0.0% · SC 13D/AOct 15, 2024 stale
- Casdin Capital, LLCwith 3 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2023 stale
- GILEAD SCIENCES INCceased >5% · SC 13G/AFeb 13, 2024 stale
One line per filer, not per reporting person: a joint schedule names the management company, its funds and often the individual who controls them, and all of them report the same shares. Click a name for that filer’s whole footprint across every SPAC it has declared a stake in.
Sources on file
harvested pages, kept in fullEvery public page we have read about this company, stored in full so a source can never go missing.
Show the sources
35 full SEC filing texts archived — searchable, never lost.
- Vault note — BCTG (BCTG Acquisition Corp.)
vault-note · /vault/tickers/BCTG
- Vault deal note — Tango Therapeutics, Inc. (BCTG)
vault-note · /vault/deals/tango-therapeutics-inc
- Tango Therapeutics - 2026 Company Profile, Team, Funding, Competitors & Financials - Tracxn
news · tracxn.com
- Tango Therapeutics Company Overview, Contact Details & Competitors | LeadIQ
news · leadiq.com
- Tango Therapeutics
company-site · tangotx.com
In plain English
tap a term to open itEvery piece of jargon this page could have used, and what it actually means.
Open the plain-English guide
No floor / floorlessthe cash guarantee is gone — the price is unprotected
A SPAC's downside protection is not the cash in trust; it is your right to demand that cash. Once the redemption window closes, the cash stays with the company and the share can trade anywhere.
Redemption deadlinethe last day to hand shares back for cash
Set by the filing that calls the meeting. Tender after it and the company is under no obligation to pay you the trust value.
Broker action datethe day your broker needs the instruction — earlier than the official date
Brokers batch redemption instructions to the transfer agent, so the practical cutoff is roughly two business days before the published deadline. This is the date that actually costs people the floor.
Cash in trust / trust per sharethe cash the company is holding for each public share
Filed quarterly in the 10-Q's XBRL. It earns interest between filings, so the figure on a given day is slightly higher than the last filed one — where we show that we label it an estimate.
Trust discountbuying below the cash held for you
Only meaningful while a redemption right exists. On a floorless name the same arithmetic is not a discount, it is the market pricing distress, and this product will not call it a yield.
Dilutionhow much of the company new shares take from you
Sponsor promote, PIPE shares, warrants and rights all issue stock that did not pay $10 for it. The headline deal value is before that; the effective value is after.
Pro-forma equitywhat the company is valued at once the deal closes
The combined company's equity value assuming the announced terms and the redemptions that have actually happened.
ARShow much upside you get per unit of downside
SpacBrain's asymmetric-return score. It is deterministic — the same inputs always produce the same number — and it is capped, not zeroed, when the floor is gone.
De-SPACthe day the SPAC becomes the real company
The shares stop being a claim on a pot of cash and start being equity in an operating business. Roughly 80% of recent de-SPACs traded below $10 within a year.
Outside datethe contractual long-stop for closing the deal
A deadline between the SPAC and its target, not between the SPAC and you. It confers no right to cash, which is exactly why it must never be counted as a redemption window.
Accession numberthe SEC's unique id for one filing
Every figure on this page carries the accession of the filing that states it, so you can open the primary document rather than trust us.
Accreted NAV (estimate)the last filed cash figure, plus the interest it should have earned since
A model, not a filing: last filed value compounded at the 3-month T-bill for the days elapsed. Always shown in italic with the word estimate, and never printed beside a filed number without it.
Ask the brain
from its filingsData provenance & audit trail5 internal entries
Written by SpacBrain’s data agents whenever a figure is captured, corrected or flagged, and kept verbatim so every number on this page can be traced back to the filing that states it. This is a running log, not the current record: an early entry may be superseded by a later correction — the panels above always hold the current values.
admitted from EDGAR's QUARTERLY FORM INDEX, walked without any SIC filter. The SIC 6770 census could not reach this registrant: EDGAR reassigns a shell's SIC the day it stops being one, and this CIK now files under 2834 (Pharmaceutical Preparations). The screen found it by filing SHAPE instead — S-1 2020-07-30 → 8-A12B 2020-09-02 → 424B4 2020-09-04 — which nothing rewrites. Admission rule: src/lib/universe-admit.ts. SIC 2834 + self-described blank check in 424B4 0001213900-20-025460; 424B 0001213900-20-025460 priced 2020-09-04 under S-1 0001213900-20-019297 (file 333-240237, an offering for cash); common ticker BCTG off 10-Q 0001213900-21-040828 (2021-08-09); lifecycle ACTIVE. The pricing prospectus was filed under SEC file number 333-240237, which belongs to S-1 0001213900-20-019297 (2020-07-30) — a registration of shares sold for CASH, which is what makes it an IPO rather than merger consideration. Blank-check status from the registrant's own first-person sentence in that prospectus (EDGAR full-text search, 424B4 2020-09-04). Ending PROVEN, not inferred: CLOSED per 8-K 0001193125-21-246234 (2021-08-13) — 8-K item 5.06 "Change in Shell Company Status" (EDGAR item index, items: 2.01,3.03,4.01,5.01,5.02,5.03,5.05,5.06,5.07). EDGAR now files this CIK as "Tango Therapeutics, Inc." — the SPAC's own name is kept here and the successor is the target. ipoSizeM and deadline left NULL: gross-proceeds prose conflates the over-allotment with the offering, and a charter deadline belonging to a vehicle that has ended is a date nobody can act on. ipoDate is the 424B pricing date.
sponsor "BCTG Holdings, LLC" (SEC CIK 0001823427) sourced from Form 3 reportingOwner (10% owner) acc 0001213900-20-025155.
[CLOSED-RENAME] EDGAR CIK 0001819133 records "BCTG Acquisition Corp." ending 2021-08-09; the registrant continues as "Tango Therapeutics, Inc.". The rename is the SEC's own record of what the vehicle became, keyed by CIK. Closed 2021-08-09. No deal value is set — a rename says what was acquired, never for how much. No date column is set: Deal has announcedAt, voteDate and expectedCloseAt and nowhere to record an actual close, so the SEC's date is kept here until that column exists. [DEAL-STRUCTURE-MINED] pipeSizeM=186.1, minCashM=300 from primary filings (0001213900-21-022195).
pipeBasis set to UNSOURCED: the size came from the research seed / an earlier record and no filing we hold states it — surfaces now label it "unsourced"; an LLM re-read to FILED replaces this when credits allow
OTHER -> BIOTECH, on S-4/A 0001213900-21-037131: "Tango, a Delaware corporation, is a private company, no market exists for its securities, and Tango has an accumulated deficit."