Life sciences firm Locust Walk's plans for its $175M SPAC
Geoff Meyerson co-founded Locust Walk, a Boston-based life sciences consulting firm, on Sept. 15, 2008, the same day that Lehman Brothers filed for bankruptcy and Merrill Lynch sold itself to Bank of America. Meyerson said he “figured the world didn’t need another investment bank,” so he and his team found other ways to support biotech firms: advising on strategy, providing analytics, helping raise capital and preparing them for IPOs.
Late last year, when the popularity of special-purpose acquisition companies, or SPACs, was exploding, Locust Walk was ready to jump in on the action. The firm filed to raise $130 million for Locust Walk Acquisition Corp., its first SPAC, in the fall. By mid-January, Locust Walk had secured $175 million for the vehicle and gone public on the Nasdaq.