GXGX Merger: The SPAC News That Has GXGX Stock Soaring – InvestorPlace

A new SPAC (special purpose acquisition company) play is catching the eyes of investors today. The second half of 2021 looks like it will be filled with hot initial public offerings (IPOs) and SPAC mergers like Robinhood andAurora. Now, anew play will be blending the hype of a new public offering with the pandemic-fed hype toward biotech plays. GX Acquisition (NASDAQ:GXGX) is announcing today their plans to make an attractive biotech outfit public in the newest GXGX merger news.

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GX Acquisition is the newest shell company to take a private entity to market. Today, they are making known their selection in Celularity. Celularity is a New Jersey-based biotechnology outfit that specializes in the treatment of cancer and degenerative diseases. The company takes on these persistent and devastating illnesses by harnessing the power of placenta-based stem cells. Most recently, the company launched its T-cell program, in which it is developing treatments against tumorous growths using mutated placental cells.

Today, GX is happily announcing the closure of its merger with Celularity. The transaction is already paying off well for Celularity; proceeds from the transaction total a cool $138 million. Investors can look forward to Mondays trading session, as Celularity will be taking over on the Nasdaq with the ticker symbol CELU. In the meantime, the GXGX merger is elevating the SPACs stock value.

CEO of GX Dean Kehler is speaking excitedly about Celularitys prospects after seeing a listing. He says the listing will enable Celularity to continue to leverage the companys commercial and clinical stage assets to treat diseases of high unmet need.

Analysts are clamoring ahead of the CELU listing, likeMarket Realist, which called the stem-cell play risky but attractive. Perhaps one of the most appealing aspects of Celularity is its recent partnership with Peter ThielsPalantir Technologies (NYSE:PLTR). The partnership is providing Celularity with fresh cash for furthering its resources. It also ties Celularity to one of the most attractive tech plays on the market right now.

GXGX stock is soaring ahead of the news. The stock is seeing gains of over 34% since the news broke. 15 million shares are exchanging hands today as well, high above GXGXs daily average volume of 313,000.

On the date of publication, Brenden Rearickdid not have (either directly or indirectly) any positions in the securities mentioned in this article.The opinions expressed in this article are those of the writer, subject to the InvestorPlace.comPublishing Guidelines.

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GXGX Merger: The SPAC News That Has GXGX Stock Soaring - InvestorPlace