Vesper Healthcare Acquisition, a SPAC led by the former CEO of Allergan, files for a $400 million IPO

Vesper Healthcare Acquisition, a blank check company formed by the former CEO of Allergan targeting the healthcare sector, filed on Thursday with the SEC to raise up to $400 million in an initial public offering.

The Miami Beach, FL-based company plans to raise $400 million by offering 40 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Vesper Healthcare Acquisition would command a market value of $500 million.

The company is led by CEO and Chairman Brenton Saunders, who previously served as CEO of Allergan until it was acquired by AbbVie in May 2020. Before that, he served as CEO of Bausch + Lomb until it was Valeant in 2013. CFO Manisha Narasimhan previously served as SVP of Strategic Initiatives, Portfolio Innovation, and Investor Relations at Allergan. The SPAC plans to target the pharmaceuticals and healthcare sectors with an emphasis on companies in the medical aesthetics, eye care, longevity, and wellness categories.

Vesper Healthcare Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol VSPRU. The company filed confidentially on August 12, 2020. Goldman Sachs and J.P. Morgan are the joint bookrunners on the deal.