Health SPAC CHW Acquisition Upsizes IPO To US$110 Million
Special purpose acquisition company CHW Acquisition Corporation (Nasdaq: CHWAU) went public on the Nasdaq Capital Market Monday. The firm has now upsized its initial public offering, aiming to now raise US$110.0 million in gross proceeds.
The offering consists of 11.0 million units priced at US$10.00 per unit, up from the initial 10.0 million units. Each unit is composed of one common share and one purchase warrant, redeemable for one common share at US$11.50 per share.
The company units currently trade on the big board under the symbol “CHWAU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “CHWA” and “CHWAW”, respectively.
The offering is being managed by Chardan as the sole bookrunner, which the company granted a 45-day over-allotment option to purchase additional 1.65 million company units.
The offering is expected to close on September 1, 2021, subject to customary closing conditions.
According to its filing statement, the blank-check company intends to pursue a business combination within the consumer, health and wellness, or retail sector.
Information for this briefing was found via Sedar 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.