SPAC Gardiner Healthcare Acquisitions Prices US$75 Million IPO
Special purpose acquisition company Gardiner Healthcare Acquisitions Corp. (NASDAQ: GDNRU) started trading publicly on the Nasdaq Global Market today. The company is seeking to raise US$75 million in its initial public offering.
The offering consists of 7.5 million company units priced at US$10.00 per unit. Each unit is composed of one Class A common share and one purchase warrant, with each warrant redeemable for one Class A common share at US$11.50 per share.
The company units trade on the Nasdaq big board under the symbol “GDNRU”. Once the securities separate, the company shares and warrants will trade under the ticker symbols “GDNR” and “GDNRW”, respectively.
The proposed offering is being managed by Chardan as the sole bookrunner, which the company granted a 45-day over-allotment option to purchase additional 1.125 million company units at the same IPO price.
The blank check company is backed by Gardiner Founder and led by its chairman and CEO Dr. Marc F. Pelletier. In 2015, Pelletier founded Iridia, a company developing DNA-based computer hard drive or molecular information storage technology.
For its target businesses, it intends to focus its search on the healthcare or healthcare-related industries. In particular, the firm may target “North American or European companies in the life sciences and medical technology sectors, with a specific focus on small and large molecule therapeutics.”
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.
