EQ Health Acquisition Corp. Announces Pricing of Upsized $191.1 Million Initial Public Offering

Rhea-AI Summary

EQ Health Acquisition Corp. announced the pricing of its initial public offering, comprising 19,130,400 units priced at $10.00 each. These units will be listed on the New York Stock Exchange under the ticker symbol EQHA.U starting January 29, 2021. Each unit comprises one share of Class A common stock and one-half of a redeemable warrant, with whole warrants allowing purchase of shares at $11.50.

The offering aims to generate capital for potential mergers or acquisitions in the healthcare sector.

Positive

• Initial public offering of 19,130,400 units priced at $10.00, indicating strong market interest.
• Focus on the healthcare services sector for future acquisitions, potentially tapping into a growing industry.

Negative

• No assurance that the offering will be completed on the anticipated terms or at all.
• Forward-looking statements indicate potential risks affecting the offering and its proceeds.

EQ Health Acquisition Corp. (the “Company”), today announced the pricing of its initial public offering of 19,130,400 units at a price of $10.00 per unit. The units are expected to be listed on the New York Stock Exchange and trade under the ticker symbol “EQHA.U” beginning January 29, 2021. Each unit consists of one share of the Company’s Class A common stock and one-half of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Company expects that its Class A common stock and warrants will be listed on the New York Stock Exchange under the symbols ‘‘EQHA’’ and ‘‘EQHA.WS,’’ respectively.

The Company was formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The Company’s efforts to identify a prospective target business will not be limited to a particular industry or geographic region, although it intends to focus on identifying, acquiring and building an undervalued, growth-oriented company in the healthcare services sector.

Jefferies LLC and BTIG, LLC are acting as joint book running managers. The Company has granted the underwriters a 45-day option to purchase up to 2,869,560 additional units at the initial public offering price to cover over-allotments, if any.

The public offering is being made only by means of a prospectus. When available, copies of the prospectus relating to the offering may be obtained from Jefferies LLC, Attn: Equity Syndicate Prospectus Department, 520 Madison Avenue, 2nd Floor, New York, NY 10002, by telephone: 877-821-7388 or by email: Prospectus_Department@Jefferies.com; or BTIG, LLC, 65 East 55th Street, New York, NY 10022, email: equitycapitalmarkets@btig.com.

Registration statements relating to the securities became effective on January 28, 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 is expected to close on February 2, 2021, subject to customary closing conditions.

Forward-Looking Statements
This press release contains statements that constitute “forward-looking statements,” including with respect to the proposed initial public offering and the anticipated use of the net proceeds thereof. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the net proceeds of the offering will be used as indicated. 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 preliminary prospectus for the Company’s offering filed with the U.S. Securities and Exchange Commission (the “SEC”). Copies of these documents are available on the SEC’s website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210129005107/en/

FAQ

What are the details of EQ Health Acquisition Corp's IPO scheduled for January 29, 2021?

The IPO involves 19,130,400 units priced at $10.00, expected to trade under the ticker EQHA.U.

What is the purpose of EQ Health Acquisition Corp's IPO?

The company aims to raise capital for mergers or acquisitions in the healthcare services sector.

When is the expected closing date for EQ Health Acquisition Corp's IPO?

The offering is expected to close on February 2, 2021, subject to customary closing conditions.

Is there a risk associated with EQ Health Acquisition Corp's IPO?

Yes, there are forward-looking statements indicating potential risks that could affect the offering.