BRIEF—Newly-public Roivant registers prospectus with SEC

Roivant has filed a  form S-3 with the US Securities and Exchange Commission (SEC), registering several prospectuses offering shares worth a total of $1 billion.

The Swiss biotech has in recent years helped create a number of so-called “Vant” companies, such as Myovant Sciences, Urovant and Enzyvant Spirovant, spinning them out into independent entities.

Following the conclusion last year of the firm’s listing via special purpose acquisition company (SPAC), as well as a concurrent PIPE financing, Roivant has around $2 billion cash on hand, and has no short-term need to raise more money.

The purpose of a so-called “shelf registration” is usually to register a public offering where there is no immediate intention of selling the securities described in the document.

The statement permits multiple offerings based on the same registration.