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SPAC · Merger completed

Ignyte Acquisition Corp.

Business combination with Peak Bio Co., Ltd.

Ignyte Acquisition Corp. is a blank-check company (SPAC) that raised $50M in its initial public offering on Jan 28, 2021, listing on Nasdaq Capital Market. It completed its business combination with Peak Bio Co., Ltd. on Nov 1, 2022; the combined company is Peak Bio, Inc. (PKBO). Graubard Miller advised the SPAC and Greenberg Traurig advised the underwriters on the IPO.

Peak Bio Co. is a clinical-stage biopharmaceutical company developing therapeutics in oncology and inflammation. Its lead product candidate, PHP-303, is a small molecule awaiting a Phase II study in the orphan disease Alpha1 anti-trypsin deficiency.

Status
Merger completed
IPO date
Jan 28, 2021
IPO size
$50M
IPO exchange
Nasdaq Capital Market
Target
Peak Bio Co., Ltd.
Announced
Apr 29, 2022
Closed
Nov 1, 2022
Combined company
Peak Bio, Inc. (PKBO)
SPAC counsel (IPO)
Graubard Miller
Underwriters' counsel (IPO)
Greenberg Traurig

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