Monterey Bio Acquisition Corporation
MTRYU
NASDAQ Global Market10.41
USD
-0.54
- -
CIK
0001860663
ISIN
US61240F2074
CUSIP
61240F207
Return %
Stock
S&P500
1Y
2.56
18.21
3Y
2.87
64.38
5Y
2.87
72.43
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
- Oct 1, 2021
- CIK
- 0001860663
- Website
- montereybio.com
- Similar Companies
- Business
- Monterey Bio Acquisition Corporation is a special purpose acquisition company (SPAC) focused on the biotechnology sector. The company was incorporated in 2020 and is headquartered in New York, New York. It concentrates on effecting mergers, share exchanges, asset acquisitions, stock purchases, recapitalizations, reorganizations, or related business combinations primarily with businesses in the biotech industry. Its core offering is capital raised through public markets, notably completing an initial public offering (IPO) that raised $115 million, to invest in or acquire biotech companies, particularly those developing or enabling pre-commercial therapeutic candidates with a focus on oncology and immunology. The company operates mainly as an investment and acquisition platform targeting promising biotechnology firms with robust pipelines addressing unmet medical needs. It does not manufacture or sell biotech products directly but facilitates the growth and public market access of selected biotech enterprises. Monterey Bio Acquisition Corporation underwent a significant change in March 2023, rebranding as Monterey Innovation Acquisition Corp., expanding its acquisition strategy to a broader universe of disruptive technology targets beyond biotechnology. This rebranding included key additions to its board of directors and changes in its management team to support the expanded strategic focus. The company maintains a strategic commitment to identifying innovative companies advancing therapeutic solutions in life sciences with the aim to leverage industry expertise and networks to unlock value for investors. Its geographic focus is global as it seeks acquisition targets across various regions, reflecting an ambition to capitalize on growth opportunities in the evolving biotech and technology sectors. Although it has yet to announce a specific acquisition, its recent strategic shifts position it to pursue diversified disruptive technology investments in addition to its original biotech focus. Monterey Bio Acquisition Corporation is publicly listed on NASDAQ under the ticker MTRYU. The company continues to focus on identifying viable biotech and technology companies for business combinations, aiming to support their transition to public markets and unlock development potential through its financial and strategic resources. This description captures the company's main products and services as a SPAC in the biotech sector, its crucial recent developments including rebranding and strategic broadening, and its operational and investment focus since its founding in 2020 and IPO completion in 2021.