MedTech Acquisition Corporation Announces Pricing of Upsized $220,000,000 Initial Public Offering

Rhea-AI Summary

MedTech Acquisition Corporation announced the pricing of its initial public offering (IPO) of 22,000,000 units at $10.00 each, scheduled to trade on Nasdaq under the symbol MTACU starting December 18, 2020. Each unit consists of one share of Class A common stock and one-third of a redeemable warrant, which can be exercised at $11.50 per share. The company, a blank check entity, aims to pursue a business combination in the medical technology sector. Raymond James & Associates is the sole book-running manager for the offering, with a 45-day option for underwriters for an additional 3,300,000 units.

Positive

• Successfully priced an upsized IPO of 22,000,000 units at $10.00, indicating strong investor interest.
• Plans to focus on acquiring businesses in the medical technology sector, which could provide growth opportunities.

Negative

• Forward-looking statements indicate uncertainty regarding the completion of the offering.
• The offering is subject to various conditions beyond the company's control, introducing market risks.

New York, NY, Dec. 17, 2020 (GLOBE NEWSWIRE) -- MedTech Acquisition Corporation (the “Company”) announced today that it priced its upsized initial public offering of 22,000,000 units at $10.00 per unit. The units will be listed on the Nasdaq Capital Market (“Nasdaq”) and will begin trading tomorrow, Friday, December 18, 2020, under the ticker symbol “MTACU”. Each unit consists of one share of the Company’s Class A common stock and one-third of one redeemable warrant, each whole warrant entitling the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Only whole warrants are exercisable and will trade.  Once the securities comprising the units begin separate trading, shares of the Class A common stock and warrants are expected to be listed on Nasdaq under the symbols “MTAC” and “MTACW,” respectively.

The Company is a blank check company 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 business or industry, it intends to focus its search on businesses primarily operating in the medical technology sector in the United States. The Company is led by Chairman Karim Karti, Chief Executive Officer Christopher C. Dewey, Chief Financial Officer David J. Matlin, and Chief Administrative Officer Robert H. Weiss. In addition to Messrs. Karti, Dewey, and Matlin, the Company’s Board of Directors includes Maurice R. Ferré, Martin W. Roche, and Ivan Delevic. The Company’s special advisor is Michael Stansky.

Raymond James & Associates, Inc. is acting as sole book running manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,300,000 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 Raymond James & Associates, Inc., 880 Carillon Parkway, St. Petersburg, Florida 33716, Attention: Equity Syndicate, 1-800-248-8863, prospectus@raymondjames.com.

A registration statement relating to these securities has been filed with, and declared effective by, the Securities and Exchange Commission (“SEC”) on December 17, 2020.  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 an 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 initial public offering. No assurance can be given that the offering discussed above will be completed on the terms described, or at all. 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 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.

Contact

Christopher C. Dewey
MedTech Acquisition Corporation
(908) 391-1288

FAQ

What is the IPO price for MedTech Acquisition Corporation's offering?

The IPO price is $10.00 per unit.

When will MedTech Acquisition Corporation's units begin trading?

Units will begin trading on Nasdaq on December 18, 2020, under the symbol MTACU.

What does each unit in the MedTech Acquisition IPO consist of?

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

What is the purpose of MedTech Acquisition Corporation?

The company is formed to pursue mergers, acquisitions, or similar business combinations, focusing primarily on the medical technology sector.

Who is the underwriter for MedTech Acquisition Corporation's IPO?

Raymond James & Associates is acting as the sole book-running manager for the offering.