Revolution Healthcare Acquisition Corp. Announces Pricing of $500 Million Initial Public Offering

Rhea-AI Summary

Revolution Healthcare Acquisition Corp. has priced its initial public offering (IPO) of 50,000,000 SAIL℠ securities at $10.00 each, set to debut on Nasdaq under the symbol "REVHU" on March 18, 2021. Each SAIL℠ security includes one share of Class A common stock and one-fifth of a redeemable warrant. The offering is expected to close on March 22, 2021. Morgan Stanley is the lead manager, with a 45-day option granted to underwriters for an additional 7,500,000 SAIL℠ securities. The company aims to invest in innovative healthcare firms, though no specific industry focus is established.

Positive

• Initial public offering priced at $10.00 per SAIL℠ security.
• Listed on Nasdaq under the ticker symbol 'REVHU'.
• Potential for market expansion by investing in innovative healthcare companies.

Negative

• No assurances that the offering will be completed as described.
• Market conditions could affect the anticipated use of net proceeds.

SAN FRANCISCO, March 17, 2021 (GLOBE NEWSWIRE) -- Revolution Healthcare Acquisition Corp. (the “Company”) announced today that it priced its initial public offering of 50,000,000 SAIL℠ (Stakeholder Aligned Initial Listing) securities at a price of $10.00 per SAIL℠ security. The SAIL℠ securities will be listed on the Nasdaq Stock Market, LLC (“Nasdaq”) and will trade under the ticker symbol “REVHU” beginning March 18, 2021. Each SAIL℠ security consists of one share of Class A common stock and one-fifth of one redeemable warrant. Each whole warrant entitles the holder thereof to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the SAIL℠ securities begin separate trading, the shares of Class A common stock and redeemable warrants are expected to be listed on the Nasdaq under the symbols “REVH” and “REVHW,” respectively. The offering is expected to close on March 22, 2021, subject to customary closing conditions.

Jay Markowitz, Jeff Leiden, Hemant Taneja, Robert Nelsen, Catherine Friedman, Jennifer Schneider, Kris Engskov, Jason Doren, Mark McDonnell and Evan Sotiriou have established Revolution Healthcare Acquisition Corp., a newly formed blank check company.

Although the Company will not be limited to a particular industry, it intends to invest in an innovator or innovators focused on building a company in the healthcare space.

Morgan Stanley is acting as lead bookrunning manager for the offering. Loop Capital Markets is acting as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 7,500,000 SAIL℠ securities 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 relating to this offering, when available, may be obtained for free by visiting EDGAR on the SEC’s website at www.sec.gov. Alternatively, copies of the prospectus, when available, may be obtained from Morgan Stanley, Attn: Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, Email: prospectus@morganstanley.com.

A registration statement relating to the securities became effective on March 17, 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.

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 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
Revolution Healthcare Acquisition Corp
ir@revolutionhealthcareacqcorp.com

FAQ

What are SAIL℠ securities in REVHU's IPO?

SAIL℠ securities consist of one share of Class A common stock and one-fifth of a redeemable warrant.

When will Revolution Healthcare Acquisition Corp. start trading on Nasdaq?

The trading is set to begin on March 18, 2021.

What is the purpose of Revolution Healthcare Acquisition Corp.'s IPO?

The IPO aims to raise funds to invest in innovative companies within the healthcare sector.

Who is managing the IPO for Revolution Healthcare Acquisition Corp.?

Morgan Stanley is the lead bookrunning manager for the offering.

What is the expected closing date for REVHU's IPO?

The offering is expected to close on March 22, 2021, subject to customary conditions.