Biotech SPAC Larkspur Health Acquisition Prices US$75 Million IPO
After filing for registration in May 2021, special purpose acquisition company Larkspur Health Acquisition Corp. (Nasdaq: LSPRU) finally started trading publicly on the Nasdaq Global Market yesterday. The company is seeking to raise US$75 million in its initial public offering.
The offering consists of 7.5 million units priced at US$10.00 per unit. Each unit is composed of one common share and three-fourths of a purchase warrant. Each whole warrant is redeemable for one common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “LSPRU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “LSPR” and “LSPRW”, respectively.
The proposed offering is being managed by Alliance Global Partners as the sole bookrunner. The company has granted the underwriters a 45-day over-allotment option to purchase additional 1.125 million company units at the same IPO price.
The blank check company will be looking to focus on firms in the biotechnology sector. The SPAC is led by Chairman and CEO Daniel O’Connor, the former CEO of OncoSec Medical–a New Jersey-based biotech firm focused on developing intratumoral cancer immunotherapy.
Information for this briefing was found via Edgar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
