BridgeBio Oncology closes SPAC merger; raises $260.9M PIPE, $381.8M total gross proceeds

BridgeBio Oncology Therapeutics, Inc.

Closing on Aug 11, 2025: Helix domesticated to Delaware, merged with BBOT subsidiary; new name BridgeBio Oncology Therapeutics, ticker BBOT.
PIPE of $260.9M (24.3M shares at $10.7173) plus $120.9M trust; $76.3M redeemed by 7.1M public shares.
Pro forma shares: ~79.2M outstanding (excluding options); ~61.1M shares (77.2%) subject to registration rights.
Lock-up: Helix insiders 1 year; BBOT employees below VP 6 months; other BBOT holders 1 year.
Equity plans approved: 2025 Incentive Plan (5.37M shares + evergreen) and ESPP (0.9M shares + evergreen).

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