Social Capital Suvretta Holdings Corp. III in its $2.64 billion business combination with ProKidney LP

On January 18, 2022, Social Capital Suvretta Holdings Corp. III, a publicly traded special purpose acquisition company led by Chamath Palihapitiya, announced its entry into a business combination agreement with ProKidney, a pioneer in the treatment of chronic kidney disease through innovations in cellular therapeutics.  The transaction values the combined company at a $2.64 billion post-money equity value and includes a $575 million PIPE financing led by Social Capital.  Wachtell, Lipton, Rosen & Katz served as legal advisor to Social Capital Suvretta Holdings Corp. III.