Consonance-HFW Acquisition, a blank check company formed by Consonance Capital targeting the life science industry, raised $80 million by offering 8 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. The company may raise an additional $25 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.
The company is led by Chairman Mitchell Blutt, who is the founder and CEO of Consonance Capital and Consonance Capital Management, and a co-founder and Co-Managing Partner of Consonance Capital Partners. CEO Gad Soffer previously served as COO of Third Rock-funded Rheos Medicines and was part of the founding team at Atara Biotherapeutics. The SPAC plans on targeting the life science industry, specifically the biotech sector in the US and Europe.
Consonance-HFW Acquisition plans to list on the NYSE American under the symbol CHFW.U. J.P. Morgan acted as a lead manager on the deal.
