HealthCor Catalio Acquisition Corp. Announces Pricing of Upsized $180 Million Initial Public Offering

Rhea-AI Summary

HealthCor Catalio Acquisition Corp. has announced the pricing of its upsized initial public offering, offering 18 million Class A ordinary shares at $10.00 per share. The sponsor, associated with HealthCor Management, manages approximately $2.7 billion in healthcare assets. The IPO is slated to commence trading on the Nasdaq under the ticker symbol 'HCAQ' starting January 27, 2021. Jefferies LLC serves as the sole book-running manager and has a 45-day option to purchase an additional 2.7 million shares. The offering is subject to customary closing conditions and expected to close on January 29, 2021.

Positive

• Upsized IPO of 18 million shares at $10.00 each raises significant capital.
• Strong sponsorship from HealthCor Management with $2.7 billion in assets.
• Potential for growth and expansion in the healthcare sector.

Negative

• Forward-looking statements indicate uncertainty about completion and proceeds usage.
• Market volatility may impact the success of the IPO.

NEW YORK, Jan. 26, 2021 /PRNewswire/ -- HealthCor Catalio Acquisition Corp. (the "Company"), a special purpose acquisition company formed for the purpose of entering into a combination with one or more businesses, today announced the pricing of its upsized initial public offering of 18,000,000 Class A ordinary shares at a price of $10.00 per share. The Company's sponsor is owned by affiliates of HealthCor Management, L.P., which manages approximately $2.7 billion in assets across long/short and long only healthcare funds, and Catalio Capital Management, LP, a private equity firm that invests in breakthrough biomedical technology companies. The Company will be led by Christopher Gaulin, as Chief Executive Officer, Joe Healey, as Chairman of the Board of Directors, and George Petrocheilos, as President. The Company will be listed on the Nasdaq Capital Market and trade under the ticker symbol "HCAQ" beginning on January 27, 2021.

Jefferies LLC is serving as sole book-running manager for this offering. The Company has granted the underwriter a 45-day option to purchase up to an additional 2,700,000 shares at the initial public offering price to cover over-allotments, if any.

The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained from: Jefferies LLC, Attention: Equity Syndicate Prospectus Department, 520 Madison Avenue, New York, New York 10022, telephone: 877-821-7388 or email: Prospectus_Department@Jefferies.com.

A registration statement relating to the securities became effective on January 26, 2021 in accordance with Section 8(a) of the Securities Act of 1933, as amended. 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 January 29, 2021, subject to customary closing conditions.

Cautionary Note Concerning 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. 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 Securities and Exchange Commission ("SEC"). Copies 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.

Contact:
Investor Relations
ir@hccspac.com

View original content:http://www.prnewswire.com/news-releases/healthcor-catalio-acquisition-corp-announces-pricing-of-upsized-180-million-initial-public-offering-301215767.html

SOURCE HealthCor Management, L.P.

FAQ

What is the IPO price for HealthCor Catalio Acquisition Corp's shares?

The IPO price for HealthCor Catalio Acquisition Corp's shares is $10.00.

When will HealthCor Catalio Acquisition Corp start trading on Nasdaq?

HealthCor Catalio Acquisition Corp will start trading on Nasdaq under the ticker 'HCAQ' on January 27, 2021.

Who is managing the initial public offering for HealthCor Catalio Acquisition Corp?

Jefferies LLC is serving as the sole book-running manager for the IPO.

What is the expected closing date of the IPO for HealthCor Catalio Acquisition Corp?

The offering is expected to close on January 29, 2021, subject to customary closing conditions.

What are the risks associated with the IPO of HealthCor Catalio Acquisition Corp?

The IPO is subject to forward-looking statements indicating uncertainties regarding completion and the use of proceeds.