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Former Allergan duo's Vesper Healthcare Acquisition prices $400 million IPO at $10

September 29, 2020

Vesper Healthcare Acquisition, a blank check company formed by the former CEO of Allergan targeting the healthcare sector, raised $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. 

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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. 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.

The Miami Beach, FL-based company plans to list on the Nasdaq under the symbol VSPRU. Goldman Sachs and J.P. Morgan acted as lead managers on the deal.