Foresight Acquisition Corp. Announces Pricing of $275,000,000 Initial Public Offering

Rhea-AI Summary

Foresight Acquisition Corp. priced its initial public offering at $10.00 per unit, offering 27,500,000 units. Each unit comprises one share of Class A common stock and one-third of a redeemable warrant. The Company aims to merge with technology-enabled consumer or healthcare businesses. Trading under the symbol “FOREU” begins February 10, 2021, with an expected close date of February 12, 2021. Cowen serves as the sole book-running manager, with an option for underwriters to purchase an additional 4,125,000 units. The offering is subject to regulatory conditions.

Positive

• Initial public offering priced at $10.00 per unit, indicating strong market interest.
• Potential for expansion into technology-enabled consumer or consumer healthcare markets.
• Underwriters have the option to purchase additional units, enhancing capital raise.

Negative

• No assurance the offering will complete as described; subject to numerous conditions.
• Possible dilution risk if additional units are purchased by underwriters.

Foresight Acquisition Corp. (the “Company”), a blank check company targeting a technology-enabled consumer or consumer healthcare business, announced today the pricing of its initial public offering of 27,500,000 units at $10.00 per unit. Each unit consists of one share of Class A common stock and one-third of one redeemable warrant. Each whole warrant entitles the holder to purchase one share of Class A common stock at a price of $11.50 per share.

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 units are expected to be listed on the Nasdaq Capital Market and trade under the symbol “FOREU” beginning February 10, 2021. 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 Nasdaq Capital Market under the symbols “FORE” and “FOREWS,” respectively.

Cowen is serving as the sole book-running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 4,125,000 units at the initial public offering price to cover over-allotments, if any. The offering is being made only by means of a prospectus. Copies of the prospectus may be obtained, when available, from Cowen, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY, 11717, Attn: Prospectus Department, email postSaleManualRequests@broadridge.com, telephone: 833-297-2926.

A registration statement relating to the securities has been filed with the U.S. Securities and Exchange Commission (the “SEC”) and became effective on February 9, 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 12, 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 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/20210209006279/en/

FAQ

What is the pricing of Foresight Acquisition Corp.'s initial public offering?

The initial public offering is priced at $10.00 per unit.

What is included in each unit of Foresight Acquisition Corp. IPO?

Each unit consists of one share of Class A common stock and one-third of a redeemable warrant.

When will Foresight Acquisition Corp. begin trading on the Nasdaq?

Trading is expected to begin on February 10, 2021, under the symbol 'FOREU'.

What is the expected closing date for the IPO of Foresight Acquisition Corp.?

The offering is expected to close on February 12, 2021.

Who is the book-running manager for Foresight Acquisition Corp.'s IPO?

Cowen is serving as the sole book-running manager for the offering.