Phoenix Biotech Acquisition Corp. Class A Common Shares and Warrants to Commence Trading Separately on November 26, 2021

Oakland, CA, Nov. 22, 2021 (GLOBE NEWSWIRE) -- Phoenix Biotech Acquisition Corp. (NASDAQ:PBAXU) (the “Company”), a blank-check company formed for the purpose of acquiring or merging with one or more businesses, today announced that the holders of the Company’s units may elect to separately trade the Class A common shares and warrants underlying the units commencing on November 26, 2021. Those units not separated will continue to trade on the NASDAQ Capital Market under the symbol “PBAXU” and the Class A common shares and warrants are expected to trade under the symbols “PBAX” and “PBAXW”, respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade.

A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission on October 5, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of, these securities in any state or jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

The offering was made by means of a prospectus, copies of which may be obtained by contacting Cantor Fitzgerald & Co., Attention: Capital Markets, 499 Park Avenue, 5th Floor, New York, New York 10022; Email: prospectus@cantor.com. Copies of the registration statement can be accessed for free through the SEC's website at www.sec.gov.

This press release contains statements that constitute “forward-looking statements,” including with respect to the initial public offering. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's registration statement and prospectus for the offering filed with the Securities and Exchange Commission. The Company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.

Contact Information:

Chris Ehrlich
chris@phoenixbiotechacquisitioncorp.com