Healthcare Capital Corp. Announces Pricing of Upsized $240 Million Initial Public Offering
Healthcare Capital Corp. has announced the pricing of its upsized IPO, offering 24 million units at $10.00 each. The units will trade on Nasdaq under ticker HCCCU starting January 15, 2021. Each unit includes one share of Class A common stock and a half warrant, with whole warrants allowing purchases of shares at $11.50. The company is focused on potential mergers in the healthcare sector, specifically in digital health, life sciences, and innovative medical devices. Cantor Fitzgerald is the sole bookrunner for this offering.
- Successful pricing of an upsized IPO with 24 million units at $10.00 each.
- Focus on the healthcare industry, including digital and telehealth sectors, which may lead to growth opportunities.
- Potential dilution of shares if the underwriters exercise their option for an additional 3.6 million units.
Wilmington, DE, Jan. 14, 2021 (GLOBE NEWSWIRE) -- Healthcare Capital Corp. (the “Company”), a newly incorporated blank check company, today announced the pricing of its upsized initial public offering of 24,000,000 units at a price of
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. While the Company may pursue an initial business combination target in any industry, it currently intends to concentrate its search for a target business operating in the healthcare industry, with a focus on digital and telehealth, life sciences, innovative medical devices and healthcare technology
The Company is led by Dr. David Milch, Chairman of the Board; William Johns, Chief Executive Officer and Director; and Philip A. Baseil, Chief Financial Officer.
Cantor Fitzgerald & Co. is serving as sole bookrunner. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,600,000 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 which may be obtained by contacting Cantor Fitzgerald & Co., Attention Capital Markets, 499 Park Avenue, New York, NY 10022, or by e-mail at prospectus@cantor.com.
A registration statement relating to these securities was declared effective by the Securities and Exchange Commission (the “SEC”) on January 14, 2021. This press release shall not constitute an offer to sell or a 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.
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 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.
Contacts
William Johns
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