Panacea Acquisition Corp. II
PANA · Nasdaq
NO ACTION REQUIRED
Nothing left to do
The cash went back to shareholders and the company wound up. 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 trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
In plain terms
- What it is
- A SPAC from Panacea Acquisition (Marriott Sarah), listed on Nasdaq in April 2021.
- What it's doing now
- It never completed a purchase. The company wound up and the cash in the account went back to shareholders — the ordinary ending when a SPAC runs out of time. No agreed deal for it is on file with us, so we cannot say whether one was ever announced and later fell through.
- What you should know
- This SPAC has finished. The cash was paid back to shareholders and the company wound up, so there is nothing left to claim — the money went where the charter said it would.
At a glance
- Where it stands
- Liquidated
- Deal
- none — it wound up and returned the cash instead
- Industry
- no filing we hold states a sector this SPAC restricted its search to
- Deal value
- no deal to value — it wound up instead
- 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
- 8 April 2021
- size not on file · 100.0% of each $10 unit into trust
- Headquarters
- 357 TEHAMA STREET, FLOOR 3, SAN FRANCISCO, CA, 94103
- registered in the Cayman Islands
- Lead underwriter
- not extracted from the prospectus yet
- Key officers
- Tipirneni Praveen P. (Director) · NODELMAN OLEG (CEO and Chairman of the Board) · Platshon Scott (Chief Operating Officer)
- Listed securities
- PANA 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 trust was liquidated and paid back to holders pro rata — the floor was honoured and the SPAC has wound up, so there is nothing left to claim.
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.
- 8 April 2021IPOpassed
IPO size not on file
The score
deterministic, from filed fieldsPANA 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
Panacea Acquisition Corp. II was a blank-check company with SEC SIC industry code 6770 and SEC CIK 0001828989 whose common stock traded on the Nasdaq Stock Market under the ticker PANA. The company priced its initial public offering on April 8, 2021, per 424B prospectus 0001213900-21-020816. An 8-K filed on April 10, 2023, with accession 0001213900-23-028589, printed the common ticker PANA on its cover page. The company subsequently liquidated, winding up and returning trust cash to shareholders, an ending established by Form 25 0001354457-23-000285 filed on April 18, 2023, under 17 CFR 240.12d2-2(a)(1) for the redemption of its Class A Ordinary Shares.
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 vs 2022-03-31trust $172.5M → $174.9M +1%going concern APPEARED
trust account, going-concern doubt, combination deadline +32 moved · 4 with no prior record of ours
- Trust account
- $172.5M$174.9M
- Going-concern doubt
- not statedstated
- Combination deadline
- 2023-04-09 · unchanged
- Sponsor loans outstanding
- $100K · unchanged
- Mandate language
- focus our search for a target business in the biotechnology … · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $2,402,793 was added to the trust between the two filings.
The clause …“operating activities. As of December 31, 2022, we had marketable securities held in the Trust Account of $174,912,374 (including approximately $2,412,374 of interest income and unrealized gains) consisting of U.S. Treasury Bills with”…
SpacBrain reads this as the substantial-doubt sentence is in this filing and not in the previous one.
The clause …“accounting firm’s report contains an explanatory paragraph that expresses substantial doubt about our ability to continue as a “going concern.” As of December 31, 2022, we have $70,034 in cash and a working capital deficit of”…
The clause …“a letter of intent, agreement in principle, or definitive agreement for a Business Combination by April 9, 2023) to consummate a Business Combination (the “Combination Period”). However, if the Company has not completed a Business”…
The clause …“2021, there were no outstanding amounts due under the Promissory Note. The outstanding balance under the Promissory Note of $100,108 was repaid at the closing of the Initial Public Offering on April 9, 2021. The promissory note is no”…
The clause …“if at all, at the time of our initial Business Combination. (3) Includes 17,250,000 Class A ordinary shares subject to possible redemption. (4) Class B ordinary shares and Class F ordinary shares will automatically convert into”…
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 2022-08-15trust $172.6M → $173.5M +1%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $172.6M$173.5M
- Combination deadline
- 2023-04-09 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $100K · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $864,413 was added to the trust between the two filings.
The clause …“Assets 392,177 678,089 Prepaid expenses – long term — 367,247 Investments held in Trust Account 173,456,415 172,509,581 TOTAL ASSETS $ 173,848,592 $ 173,554,917 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities Accrued”…
The clause …“a letter of intent, agreement in principle, or definitive agreement for a Business Combination by April 9, 2023) to consummate a Business Combination (the “Combination Period”). However, if the Company has not completed a Business”…
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 “31, 2021, there were no outstanding amounts due under the Promissory Note. The outstanding balance under the Promissory Note of $ 100,108 was repaid at the closing of the Initial Public Offering on April 9, 2021. The Promissory Note is”…
The clause …“500,000,000 shares authorized; 545,000 issued and outstanding (excluding 17,250,000 Class A ordinary shares subject to possible redemption) as of September 30, 2022 and December 31, 2021 55 55 Class B ordinary shares, $ 0.0001 par”…
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 $172.5M → $172.6M +0%
trust account, combination deadline, going-concern doubt +21 moved · 4 with no prior record of ours
- Trust account
- $172.5M$172.6M
- Combination deadline
- 2023-04-09 · unchanged
- Going-concern doubt
- stated · unchanged
- Sponsor loans outstanding
- $100K · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $78,167 was added to the trust between the two filings.
The clause …“Assets 578,695 678,089 Prepaid expenses – long term — 367,247 Investments held in Trust Account 172,592,002 172,509,581 TOTAL ASSETS $ 173,170,697 $ 173,554,917 LIABILITIES AND SHAREHOLDERS’ DEFICIT Current liabilities Accrued”…
The clause …“a letter of intent, agreement in principle, or definitive agreement for a Business Combination by April 9, 2023) to consummate a Business Combination (the “Combination Period”). However, if the Company has not completed a Business”…
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 …“December 31, 2021, there was no outstanding under the Promissory Note. The outstanding balance under the Promissory Note of $ 100,108 was repaid at the closing of the Initial Public Offering on April 9, 2021. The promissory note is”…
The clause …“500,000,000 shares authorized; 545,000 issued and outstanding (excluding 17,250,000 Class A ordinary shares subject to possible redemption) as of June 30, 2022 and December 31, 2021 55 55 Class B ordinary shares, $ 0.0001 par”…
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 2021-11-12trust $172.5M → $172.5M +0%going concern APPEARED
trust account, going-concern doubt, combination deadline +22 moved · 3 with no prior record of ours
- Trust account
- $172.5M$172.5M
- Going-concern doubt
- not statedstated
- Combination deadline
- 2023-04-09 · unchanged
- Sponsor loans outstanding
- $100K · unchanged
- Redeemable shares
- 17.3M · unchanged
SpacBrain reads this as $8,541 was added to the trust between the two filings.
The clause …“636,638 678,089 Prepaid insurance – long term 231,848 367,247 Investments held in Trust Account 172,513,835 172,509,581 TOTAL ASSETS $ 173,382,321 $ 173,554,917 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 …“a letter of intent, agreement in principle, or definitive agreement for a Business Combination by April 9, 2023) to consummate a Business Combination (the “Combination Period”). However, if the Company has not completed a Business”…
The clause …“December 31, 2021, there was no outstanding under the Promissory Note. The outstanding balance under the Promissory Note of $ 100,108 was repaid at the closing of the Initial Public Offering on April 9, 2021. The promissory note is”…
The clause …“500,000,000 shares authorized; 545,000 issued and outstanding (excluding 17,250,000 Class A ordinary shares subject to possible redemption) as of March 31, 2022 and December 31, 2021 55 55 Class B ordinary shares, $ 0.0001 par”…
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.
The sponsor
The people who set this company up, what they have done before, and the advisers around the deal.
Deal completion: 1/2 resolved vehicles closed a deal (50%); 1 liquidated, 0 terminated. No measured post-close outcome yet, so completion credit is NOT gated — missing data is never a penalty. Small sample — the shrink below keeps this near neutral.
Mixed record · low confidence
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 424B4 0001213900-21-020816
Trading & liquidity
Company profile
Directors & officers
- Tipirneni Praveen P.Director
- NODELMAN OLEGCEO and Chairman of the Board
- Platshon ScottChief Operating Officer
- Perlen ScottChief Financial Officer
- Marriott SarahDirector
- Kjellson Nina SDirector
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
10 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.
- EcoR1 Panacea Holdings II, LLCwith 6 other reporting persons on the same schedule26.7% · SC 13GFeb 14, 2022 stale
- CITADEL ADVISORS LLCwith 6 other reporting persons on the same schedule8.4% · SC 13G/AFeb 14, 2023 stale
- MAVERICK CAPITAL LTDwith 2 other reporting persons on the same schedule7.8% · SC 13G/AFeb 14, 2023 stale
- ARISTEIA CAPITAL LLC6.9% · SC 13GFeb 13, 2023 stale
- RIT CAPITAL PARTNERS PLC5.8% · SC 13GApr 19, 2021 stale
- ADAGE CAPITAL PARTNERS GP, L.L.C.with 2 other reporting persons on the same schedule5.3% · SC 13GApr 19, 2021 stale
- VICTORY CAPITAL MANAGEMENT INC3.0% · SC 13G/AFeb 6, 2023 stale
- Sculptor Capital LP0.2% · SC 13G/AFeb 14, 2022 stale
- 683 Capital Management, LLCwith 2 other reporting persons on the same schedule0.0% · SC 13G/AFeb 14, 2024 stale
- HIGHBRIDGE CAPITAL MANAGEMENT LLC0.0% · SC 13G/AJan 25, 2023 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
39 full SEC filing texts archived — searchable, never lost.
- Vault note — PANA (Panacea Acquisition Corp. II)
vault-note · /vault/tickers/PANA
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 trail2 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 the HISTORICAL census (EDGAR's SIC 6770 registrant list, walked in full: 3,325 registrants, 1,167 of which ever priced an IPO). The live discovery job cannot reach this registrant — it reads the filing tape, and this one stopped filing. Admission rule: src/lib/universe-admit.ts. SIC 6770 (Blank Checks); 424B 0001213900-21-020816 priced 2021-04-08; common ticker PANA off 8-K 0001213900-23-028589 (2023-04-10); lifecycle EXITED. Ending PROVEN, not inferred: LIQUIDATED per Form 25 0001354457-23-000285 (2023-04-18) — Form 25 filed under 17 CFR 240.12d2-2(a)(1) — the rule for a class "called for redemption" or "redeemed or paid at maturity/retirement". For a SPAC that class is the public shares and that redemption is the trust going back (class: Class A Ordinary Share). No wind-up press release was readable on the registrant's own file, so the per-share figure is not stored.. 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 "Outstanding Ordinary Shares EcoR1 Panacea Holdings II, LLC" sourced from prospectus definition (10-K) acc 0001213900-22-016844.