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Helix Acquisition Corp. II Class A ( (HLXB) ) just unveiled an announcement.
On August 6, 2025, Helix Acquisition Corp. II and BridgeBio Oncology Therapeutics announced that Helix retained over 60% of its trust account funds, approximately $120 million, following shareholder redemptions. This retention marks the second-lowest redemption rate for a biotech de-SPAC transaction since 2022. The transaction is expected to generate around $382 million in gross proceeds, combining funds from Helix’s trust account and $261 million from a private placement led by Cormorant Asset Management. The companies plan to expedite the closing of their business combination, subject to closing conditions.
More about Helix Acquisition Corp. II Class A
Helix Acquisition Corp. II is a special purpose acquisition company (SPAC) formed to facilitate mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations. It is sponsored by affiliates of Cormorant Asset Management and headquartered in Boston, Massachusetts. TheRas, Inc., doing business as BridgeBio Oncology Therapeutics (BBOT), is a clinical-stage biopharmaceutical company focused on developing novel small molecule therapeutics targeting RAS and PI3Kα malignancies, aiming to improve outcomes for cancer patients.
Average Trading Volume: 77,546
Technical Sentiment Signal: Strong Sell
See more insights into HLXB stock on TipRanks’ Stock Analysis page.