Orthopedics SPAC Viveon Health Acquisition files for a $170 million IPO

Viveon Health Acquisition, a blank check company targeting the US orthopedic and spine industry, filed on Friday with the SEC to raise up to $170 million in an initial public offering.

The Norcross, GA-based company plans to raise $170 million by offering 17 million units at $10. Each unit will contain one share of common stock, one right to receive one-twentieth of a share common stock upon the consummation of an initial business combination, and one warrant to purchase one-half of a share of common stock, exercisable at $11.50. At the proposed deal size, Viveon Health Acquisition will command a market value of $213 million.

The company is led by CEO Jagi Gill, who was previously VP of Business Development and General Manager of AcuVentures and the founder of orthopedics-focused companies Tenex Health and OrthoCor, and CFO Rom Papadopoulos, the founder and former Managing Partner of healthcare private equity firm Intuitus Capital. Viveon Health Acquisition plans to leverage its management team's experience and relationships in healthcare to target companies in the US orthopedic and spine industry. 

Viveon Health Acquisition was founded in 2020 and plans to list on the NYSE American under the symbol VHAQ.U.The company filed confidentially on September 10, 2020. Chardan Capital Markets is the sole bookrunner on the deal.