Lower Cross Acquisitions, a blank check company targeting healthcare and insurance businesses, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock, and one-third of one warrant to purchase a share, exercisable at $11.50.
The company is led by CEO and Chairman Richard Barasch, who served as CEO of Universal American Corp., a publicly-traded health insurance company, from 1995 until 2017, when it was acquired by WellCare for $800 million. Barasch previously served as Chairman of three SPACs that IPO'd between 2018 and 2020, all of which completed mergers. Those SPACs merged with AdaptHealth (AHCO), CareMax (delisted; formerly CMAX), and Starling Oncology (STLN; formerly known as The Oncology Institute).
The Greenwich, CT-based company was founded in 2026. It plans to list on the Nasdaq under the symbol LCACU. Lower Cross Acquisitions filed confidentially on September 16, 2026. BTIG is the sole bookrunner on the deal.
