Therapeutics Acquisition Corp. Jumps 22% in IPO Debut
Shares of Therapeutics Acquisition Corp. (NASDAQ: TXAC) flew out of the gates today, rising 22% on its first day on the market.
Not bad for a company that doesn't own any drugs or even any drug candidates -- at the moment, at least.
Therapeutics Acquisition Corp. is a special purpose acquisition company (SPAC), sometimes referred to as a "blank check" company because investors are basically giving management a blank check to go out and buy something.
Source Fool.com
