Helix Acquisition Corp. II, a special purpose acquisition company sponsored by affiliates of Cormorant Asset Management, and BridgeBio Oncology Therapeutics have announced that they expect to raise approximately $382 million in gross proceeds from their business combination. This includes $120 million from Helix's trust account and around $261 million from a private placement $(PIPE)$ transaction. The PIPE financing was led by Cormorant Asset Management and features participation from several prominent investment groups. Helix retained over 60% of its trust account funds following redemptions by public shareholders. The companies plan to move swiftly towards closing the transaction once all conditions are met.
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