Hudson Executive Investment Corp. II Announces Closing of $250 Million Initial Public Offering

Rhea-AI Summary

Hudson Executive Investment Corp. II announced the closing of its initial public offering (IPO), raising $250 million by issuing 25,000,000 units at $10.00 per unit, including the underwriters' over-allotment of 2,500,000 units. The units are traded on Nasdaq under the symbol HCIIU. Each unit is comprised of one share of Class A common stock and one-quarter of a redeemable warrant, with a warrant exercise price of $11.50 per share. The IPO's registration statement became effective on January 25, 2021.

Positive

• Raised $250 million through IPO.
• Units listed on Nasdaq under symbol HCIIU.
• Includes over-allotment option of 2,500,000 units.

Negative

• Potential dilution of shares upon warrant exercise.

NEW YORK, Jan. 28, 2021 /PRNewswire/ -- Hudson Executive Investment Corp. II (the "Company") announced today that it closed its initial public offering of 25,000,000 units at a price of $10.00 per unit, including 2,500,000 units issued pursuant to the exercise by the underwriters of their over-allotment option. The units are listed on The Nasdaq Capital Market ("Nasdaq") and began trading under the ticker symbol "HCIIU" on January 26, 2021. Each unit consists of one share of Class A common stock and one-quarter of a redeemable warrant, with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. After the securities comprising the units begin separate trading, the shares of Class A common stock and warrants are expected to be listed on Nasdaq under the symbols "HCII" and "HCIIW," respectively.

Citigroup Global Markets Inc., J.P. Morgan Securities LLC and Barclays Capital Inc. acted as joint bookrunning managers of the offering.

About Hudson Executive Investment Corp. II
Hudson Executive Investment Corp. II is a blank check company whose business purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. The Company was co-founded by Hudson Executive Capital LP (HEC), a value-oriented, event-driven investment firm with a focus on small and mid-cap companies, Douglas L. Braunstein, its founder and managing partner, and Douglas G. Bergeron, its managing partner. While the company may pursue an initial business combination in any industry, sector or geographic region that complements the experience of its management team, it intends to initially focus its search on technology-driven, disruptive companies. Hudson Executive Capital took public its first SPAC, Hudson Executive Investment Corp., which raised $414 million in June 2020 and in January 2021 announced a combination with digital and virtual behavioral healthcare company Talkspace.

About Douglas L. Braunstein
Prior to founding Hudson Executive Capital, Douglas L. Braunstein was the Chief Financial Officer of JPMorgan Chase from 2010 to 2012 and its Vice Chairman from 2013 to 2015. As a leading investment banker and trusted corporate advisor, Mr. Braunstein has been instrumental in originating, structuring, negotiating and advising on many significant transactions across the Company's sectors of focus. Prior to his role as CFO of JPMorgan Chase, Mr. Braunstein served in several leadership positions at the bank, including Head of Investment Banking in the Americas, Head of Global M&A and Global Industry Coverage and Head of Healthcare Investment Banking, as well as serving on the Investment Bank Management Committee for over ten years.

About Douglas G. Bergeron
Mr. Bergeron's expertise in the financial services sector, FinTech in particular, and the technology industry spans over 35 years, including 12 years as the Chief Executive Officer of Verifone Systems, Inc., a provider of technology for electronic payment transactions and value-added services at the point-of-sale. As CEO, he led Verifone from sales of under $300 million in 2002 to over $2 billion and over 5,000 employees worldwide in 2013 and an enterprise value in excess of $4 billion. Prior to leading Verifone, Mr. Bergeron was CEO of SunGard Brokerage Systems Group and President of SunGard Futures Systems, which provided software and services to a variety of trading institutions, banks, futures brokerages, derivatives exchanges and clearing and settlement services providers.

A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission (the "SEC") on January 25, 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 being made only by means of a prospectus. Copies of the prospectus relating to the offering may be obtained from Citigroup Global Markets Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717 or by telephone at 800-831-9146; J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, telephone: 866-803-9204, email: prospectuseq_fi@jpmchase.com; and Barclays Capital Inc., c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, telephone: (888) 603-5847, email: barclaysprospectus@broadridge.com.

Cautionary Note Concerning Forward-Looking Statements
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the 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 for the initial public offering filed with the 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.

Investor Contact
Hatcher Snead
IR@hudsonexecutive.com
212-521-8495

Media Contact
Gladstone Place Partners
Felipe Ucros/Max Dutcher
212-230-5930

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SOURCE Hudson Executive Investment Corp. II

FAQ

What is the closing amount of Hudson Executive Investment Corp. II's IPO?

Hudson Executive Investment Corp. II raised $250 million in its IPO.

When did Hudson Executive Investment Corp. II begin trading on Nasdaq?

Hudson Executive Investment Corp. II began trading on Nasdaq on January 26, 2021, under the ticker symbol HCIIU.

What does each unit consist of in the IPO of HCIIU?

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

What is the warrant exercise price for Hudson Executive Investment Corp. II?

The warrant exercise price is $11.50 per share.

What is the purpose of Hudson Executive Investment Corp. II as a blank check company?

The company aims to effect a merger, capital stock exchange, or similar business combination with one or more businesses.