BIOT SEC filings, in plain English
Everything Biotech Acquisition Co has filed with the SEC that we hold — 40 filings, newest first, 1 with a plain-English summary of what changed and why it matters. Every row links to the primary document on EDGAR, so you can check the source rather than trust us.
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What changed: Biotech Acquisition Company called an extraordinary general meeting for January 19, 2023 at 10:00 a.m. Eastern Time to extend the deadline beyond January 27, 2023. Subject to approval, the Sponsor agreed to transfer to IREEM LLC 5,455,000 Founder Shares, 6,000,000 Private Placement Warrants and a promissory note. Why it matters: A sponsor handing its entire founder stake, private warrants and note to a new investor is a control transfer at the top of the SPAC, and the incoming holder is buying the promote rather than backing the original thesis. The 5.5 cents a month deposit is capped at $467,500, so the per-share benefit falls as fewer holders redeem. BIOT's filed trust value is around $10.15 per share and it ultimately liquidated, making the January 17, 2023 tender the decisive step.
- What changed vs 2022-08-22trust $230.3M → $231.3M +0%sponsor loan $150K → $305K
trust account, sponsor loans outstanding, combination deadline +12 moved · 2 with no prior record of ours
- Trust account
- $230.3M$231.3M
- Sponsor loans outstanding
- $150K$305K
- Combination deadline
- 2023-01-28 · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $1,015,256 was added to the trust between the two filings.
The clause …“82,107 208,056 Total Current Assets 95,252 299,463 Marketable securities held in Trust Account 231,293,983 230,021,238 TOTAL ASSETS $ 231,389,235 $ 230,320,701 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities: Accrued”…
SpacBrain reads this as the sponsor has advanced $155,000 more.
The clause …“trust account would be used for such repayment. As of September 30, 2022, we borrowed $304,980 under the promissory note to fund ongoing working capital needs. We may have insufficient funds available to operate our business prior to”…
The clause …“capital and accumulated deficit. If the Company does not complete an Initial Business Combination by January 28, 2023 and is liquidated, interest earned on the funds in the Trust Account up to $ 100,000 may be used to satisfy”…
The clause …“a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2022-05-16trust $230.0M → $230.3M +0%sponsor loan $130K → $150K
trust account, sponsor loans outstanding, combination deadline +12 moved · 2 with no prior record of ours
- Trust account
- $230.0M$230.3M
- Sponsor loans outstanding
- $130K$150K
- Combination deadline
- 2023-01-28 · unchanged
- Going-concern doubt
- stated · unchanged
SpacBrain reads this as $236,983 was added to the trust between the two filings.
The clause …“143,687 208,056 Total Current Assets 145,383 299,463 Marketable securities held in Trust Account 230,278,727 230,021,238 TOTAL ASSETS $ 230,424,110 $ 230,320,701 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities: Accrued”…
SpacBrain reads this as the sponsor has advanced $19,570 more.
The clause …“the Company consummates an initial business combination. As of June 30, 2022, $ 149,980 was outstanding under the Second Promissory Note. Related Party Loans In order to finance transaction costs in connection with a Business”…
The clause …“our ability to continue as a going concern. Management intends to complete a Business Combination by January 28, 2023. No adjustments have been made to the carrying amounts of assets or liabilities should we be required to liquidate”…
The clause …“a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
- What changed vs 2021-11-17trust $230.0M → $230.0M +0%going concern APPEARED
trust account, going-concern doubt, combination deadline +12 moved · 2 with no prior record of ours
- Trust account
- $230.0M$230.0M
- Going-concern doubt
- not statedstated
- Combination deadline
- 2023-01-28 · unchanged
- Sponsor loans outstanding
- $130K · unchanged
SpacBrain reads this as $26,304 was added to the trust between the two filings.
The clause …“205,267 208,056 Total Current Assets 309,323 299,463 Marketable securities held in Trust Account 230,041,744 230,021,238 TOTAL ASSETS $ 230,351,067 $ 230,320,701 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities: Accrued”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“a Business Combination not occur, and potential subsequent dissolution raises substantial doubt about the Company’s ability to continue as a going concern. No adjustments have been made to the carrying amounts of assets or liabilities”…
The clause …“our ability to continue as a going concern. Management intends to complete a Business Combination by January 28, 2023. No adjustments have been made to the carrying amounts of assets or liabilities should we be required to liquidate”…
The clause …“(i) the consummation of the Initial Public Offering. As of January 28, 2021, $ 130,410 was outstanding under the Promissory Note. On March 4, 2021, $ 130,410 was paid to the sponsor to reduce the balance of the Promissory Note to $ 0 .”…
Read from stored SEC filing text by a regex — no model is involved — and each side links to the filing it came from. “Not previously extracted” is a statement about our record, not about the company: the clause may be present in wording we do not match.
In plain English
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.
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.
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.