Monterey Bio Acquisition Corporation
MTRY
NASDAQ Global Market11.14
USD
-0.03
- -
CIK
0001860663
ISIN
US61240F1084
CUSIP
61240F108
Return %
Stock
S&P500
1Y
8.05
18.21
3Y
12.53
63.29
5Y
12.53
74.90
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Murat Omur
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 17 State Street New York City NY United States of America 10004
- IPO Date
- Nov 22, 2021
- CIK
- 0001860663
- Website
- montereybio.com
- Similar Companies
- Business
- Monterey Bio Acquisition Corporation operates as a special purpose acquisition company (SPAC) focused on effecting mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or related business combinations primarily within the biotechnology industry. The company targets businesses developing or enabling pre-commercial therapeutic candidates across various therapeutic areas, with an initial focus on oncology and immunology. Established in 2020 and headquartered in New York, New York, Monterey Bio Acquisition does not engage in direct product manufacturing or sales but serves as a vehicle for acquiring and merging with biotech entities poised for public market success. In March 2023, the company rebranded to Monterey Innovation Acquisition Corp., expanding its acquisition strategy from solely biotech to include a broader range of disruptive technology companies. This strategic shift is accompanied by changes in management and the board of directors, including the appointment of Murat Omur as Chief Executive Officer and Sean McGann as Chief Financial Officer. The company aims to leverage the extensive investment and advisory experience of its new leadership and board to identify and acquire high-growth technology businesses for public market entry. Monterey Bio Acquisition’s operations have been primarily centered in the United States, and it remains a publicly traded entity on the NASDAQ under the ticker symbol MTRY. Although the company has yet to complete a definitive business combination, its strategic direction and rebranding reflect an intention to broaden its investment universe beyond biotech to encompass innovative technology sectors. The company was originally founded as a blank check entity with the purpose of facilitating acquisitions in the biotech space but has recently widened this scope consistent with evolving market opportunities. In summary, Monterey Bio Acquisition Corporation is a SPAC founded in 2020, headquartered in New York, focusing on acquiring and merging with biotechnology and disruptive technology companies, with recent major changes involving a rebrand and expanded acquisition strategy supported by new senior leadership and board members. It does not directly produce products but facilitates the public market entry of targeted companies through mergers and acquisitions.