Daily leader from editor-in-chief James Mawson.

Meituan Dianping and Bytedance were among the shareholders that committed to investing $380m in a concurrent private placement.

Cerevel Therapeutics, co-founded by Pfizer, is set to undertake a reverse merger with Nasdaq-listed Arya II in a deal that will give Cerevel a market cap of $1.3bn.

The creative digital studio has floated on TSE’s Mothers Market, enabling Kaga Electronics, Sony and Norinchukin Bank to exit.

Naspers Ventures-backed Joymode has been saved through an acquisition by XRC Labs, having failed to scale its consumer goods rental service effectively.

Mitsui and Virgin-backed remittance service TransferWise has bolstered its valuation to $5bn, up from $3.5bn, through a $319m secondary share sale.

Hefei Jianghang Aircraft Equipment has priced its shares at $1.48 each to raise $148m in an initial public offering that provided an exit to Aviation Industry Corporation.

University of Utah spinout Vaporsens has been acquired by Gentex for $10.5m after the corporate had already supplied $3m in equity financing.

University of Utah spinout Vaporsens has been acquired by Gentex for $10.5m after the corporate had supplied $3m in equity financing.

CureVac has filed for an initial public offering in the US, 20 years after being spun out of Eberhard Karls University of Tübingen.