Healthcare SPAC Healthwell Acquisition Aims To Raise US$250 Million In IPO

Special purpose acquisition company Healthwell Acquisition Corp. I (NASDAQ: HWELU) went public on the Nasdaq Capital Market yesterday. The firm is looking to raise US$250.0 million through its initial public offering, expected to close on August 5, 2021.

The offering consists of 25.0 million units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one-half 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 “HWELU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “HWEL” and “HWELW”, respectively.

The proposed offering is being managed by Jefferies as the sole underwriter, which the company granted a 45-day over-allotment option to purchase additional 3.75 million company units.

The newly-organized blank check company also relayed that it will be looking to transact with firms valued between US$500 million and US$1 billion and focused on tech-enabled healthcare business.

Healthwell Acquisition last traded at US$9.90 on the Nasdaq.

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.

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