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Hedge fund's SPAC Hudson Executive Investment files for a $300 million IPO

May 21, 2020

Hudson Executive Investment, a blank company formed by Hudson Executive Capital targeting fintech or healthcare, filed on Thursday with the SEC to raise up to $300 million in an initial public offering. The company plans to raise an additional $50 million through a forward purchase agreement with an affiliate of Hudson Executive Capital.

The New York, NY-based company plans to raise $300 million by offering 30 million units at a price of $10. Each unit consists of one share of common stock and one-half of a warrant exercisable at $11.50. At $10, Hudson Executive Investment would command a market value of $375 million.

The company is led by President and Chairman Douglas Braunstein, the founder and a Managing Partner of Hudson Executive Capital, and CEO Douglas Bergeron, a Managing Partner at the firm. Hudson Executive Capital, a member of the sponsor, was founded in 2015 and the majority of its investments have been focused on financial services and healthcare. Hudson Executive Investment intends to leverage its management team's experience and target a financial technology or healthcare business.

Hudson Executive Investment was founded in 2020 and plans to list on the Nasdaq under the symbol HECCU. Citi and J.P. Morgan are the joint bookrunners on the deal.