NorthView Acquisition Corp. Announces Closing of $189,750,000 Initial Public Offering, Including Full Exercise of Underwriter Over-Allotment Option

Rhea-AI Summary

NorthView Acquisition Corp. (NASDAQ: NVACU) has successfully closed its initial public offering, raising approximately $189.75 million by offering 18,975,000 units at $10.00 each. The units, which started trading on December 20, 2021, consist of one share of common stock, one right, and half a warrant. Once separated, they will trade under the symbols NVAC for common stock, NVACR for rights, and NVACW for warrants. This funding will support future mergers or acquisitions, primarily in the healthcare sector.

Positive

• Raised approximately $189.75 million through IPO.
• Focus on acquiring healthcare sector businesses valued between $500 million and $2 billion.
• Successful full exercise of the underwriters' over-allotment option demonstrates strong demand.

Negative

• None.

New York, New York, Dec. 23, 2021 (GLOBE NEWSWIRE) -- NorthView Acquisition Corp. (NASDAQ: NVACU) (the “Company”) announced today the closing of its initial public offering of 18,975,000 units, which included the full exercise of the underwriters' over-allotment option, at a price to the public of $10.00 per unit. The units began trading on the Nasdaq Global Market under the symbol “NVACU” on December 20, 2021.

Each unit consists of one share of common stock, one right, and one-half of one redeemable warrant. Each right entitles the holder to receive one-tenth (1/10) of one share of common stock upon the consummation of an initial business combination. Each whole warrant entitles the holder to purchase one share of common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the common stock, rights and warrants are expected to be traded on the Nasdaq Global Market under the symbols “NVAC,” “NVACR” and “NVACW,” respectively.

I-Bankers Securities, Inc. acted as the sole book-running manager of the offering and Dawson James Securities, Inc. acted as co-manager of the offering.

Schiff Hardin LLP acted as counsel to the Company and Ellenoff Grossman & Schole LLP acted as counsel to the underwriters.

The offering was made only by means of a prospectus. Copies of the prospectus related to this offering may be obtained from I-Bankers Securities, Inc. at 1208 Shady Lane N, Keller, Texas 76248.

A registration statement relating to the securities was declared effective by the Securities and Exchange Commission (“SEC”) on December 20, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any securities, 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.

About NorthView Acquisition Corp.

NorthView Acquisition Corp. is a blank check company organized for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses or entities. The Company intends to focus its initial search on target businesses in the healthcare sector with an enterprise value of approximately $500 million to $2 billion. The proceeds of the offering will be used to fund such business combination.

Forward-Looking Statements 

This press release includes forward-looking statements that involve risks and uncertainties. Forward-looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements, including those set forth in the risk factors section of the prospectus used in connection with the Company’s initial public offering. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based, except as required by law.

Contact:
Fred Knechtel
Fredknechtel@hotmail.com
631 987-8921

FAQ

What is the purpose of NorthView Acquisition Corp.'s IPO on December 20, 2021?

NorthView Acquisition Corp. aims to raise funds for future mergers or acquisitions, particularly in the healthcare sector.

What are the trading symbols for NorthView's securities?

The common stock trades under the symbol NVAC, rights under NVACR, and warrants under NVACW.

How much capital did NorthView Acquisition Corp. raise in its IPO?

The company raised approximately $189.75 million by offering 18,975,000 units at $10.00 each.

Who managed NorthView Acquisition Corp.'s IPO?

I-Bankers Securities, Inc. was the sole book-running manager, with Dawson James Securities, Inc. as co-manager.

What is the expected use of proceeds from the IPO?

Proceeds are intended to fund business combinations in the healthcare sector.