The IPO Buzz: TCGX Acquisition II (TCXB) Gains 12 Percent in its NASDAQ Debut
Jump shot: TCGX Acquisition Corp. II (TCXB) – a stock-only SPAC – opened at $11.20 – up 12 percent for a gain of $1.20 from its $10.00 price – in its NASDAQ debut today – Friday, Oct. 16, 2026. TCGX Acquisition II priced its SPAC IPO last night – on Thursday night, Oct. 15, 2026 – and raised $100 million. The TCGX Acquisition II deal consisted of 10 million shares at $10.00 each.
Guggenheim Securities was the sole book-runner.
TCGX Acquisition Corp. II, based in Palo Alto, California, intends to focus its search for a suitable acquisition target on companies in the life sciences and medical technology sectors, according to the prospectus. It may pursue a target company in Asia, including Hong Kong and/or the People’s Republic of China. (Incorporated in the Cayman Islands)
For the year to date, 156 SPACs have gone public.
Earlier this week, Frazier Life Sciences Acquisition II (FLSC) – another Palo Alto-based healthcare SPAC – raised $75 million by pricing its stock-only SPAC IPO. Its stock rose 18 cents to $10.18 when it started trading on NASDAQ on Wednesday, Oct. 14, 2026. On Thursday, Its stock closed at $10.49. Jefferies was the sole book-runner.
At TCGX Acquisition Corp. II, both the CEO and the CFO serve in comparable positions at TCGX, a biotech investment firm based in Palo Alto.
Chen Yu, M.D., M.B.A., 52, the CEO of TCGX Acquisition II, is the founder and a managing partner of TCGX, which was established in January 2021.
Craig Skaling, 50, the CFO of TCGX Acquisition II, is the CFO and the COO of TCGX. He joined TCGX in February 2022.
Source: https://www.iposcoop.com/the-ipo-buzz-tcgx-acquisition-ii-tcxb-gains-12-percent-in-its-nasdaq-debut/
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