TAMPA, Fla., Jan. 27, 2021 /PRNewswire/ -- SCP & CO
Healthcare Acquisition Company (the "Company") (NASDAQ: SHACU),
announced the closing of its upsized initial public offering of
23,000,000 units at $10.00 per unit,
including 3,000,000 units pursuant to the full exercise of the
underwriters' over-allotment option. The offering was priced at
$10.00 per unit, resulting in gross
proceeds of $230,000,000.
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 acquisition
in any business industry or sector, it intends to concentrate its
efforts on identifying businesses in the healthcare technology
industry or healthcare-related industries in the United States and other developed
countries.
The Company's units began trading on the Nasdaq Capital Market
("Nasdaq") under the ticker symbol "SHACU" on January 22, 2021. Each unit issued in the
offering consists of one share of the Company's Class A common
stock and one-half of one warrant, each whole warrant entitling the
holder thereof to purchase one share of Class A common stock at an
exercise price of $11.50 per share.
No fractional warrants will be issued upon separation of the units
and only whole warrants will trade. 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 "SHAC" and "SHACW," respectively.
Barclays Capital Inc. and Piper
Sandler & Co. acted as joint bookrunning managers of the
offering.
Of the proceeds received from the consummation of the initial
public offering and a simultaneous private placement of warrants,
$230,000,000 (or $10.00 per unit sold in the public offering) was
placed in the Company's trust account. An audited balance sheet as
of January 26, 2021, reflecting
receipt of the proceeds upon consummation of the initial public
offering and the private placement will be included as an exhibit
to a Current Report on Form 8-K to be filed by the Company with the
Securities and Exchange Commission ("SEC").
The offering was made only by means of a prospectus. Copies of
the prospectus relating to the offering may be obtained from:
Barclays Capital Inc. c/o Broadridge Financial Solutions, 1155 Long
Island Avenue, Edgewood, NY 11717,
or by email at Barclaysprospectus@broadridge.com or by telephone at
(888) 603-5847, and/or Piper Sandler
& Co., Attn: Prospectus Department, 800 Nicollet Mall, J12S03,
Minneapolis, MN, 55402, by
telephone at (800) 747-3924, or by email at prospectus@psc.com.
Registration Statements relating to these securities have been
filed with, and declared effective by, the Securities and Exchange
Commission ("SEC") on January 21,
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
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 and search for an initial business combination.
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.
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SOURCE SCP & CO Healthcare Acquisition Company