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Health and wellness SPAC HumanCo Acquisition prices upsized $250 million IPO at $10

December 9, 2020

HumanCo Acquisition, a blank check company targeting the US health and wellness industry, raised $250 million by offering 25 million units at $10. The company offered 2.5 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. CAVU Venture Partners, a member of the sponsor, will purchase 2.5 million additional units in a private placement concurrent with the closing of the offering.
The company is led by Executive Co-Chairman Jason Karp and CEO and Director Ross Berman, who together co-founded HumanCo and serve as the CEO and President, respectively. They will be joined by Co-Chairman Rohan Oza, the co-founder of CAVU Ventures and former Chief Marketing Officer of Glacéau, which built brands such as Vitamin Water and Smartwater. HumanCo Acquisition plans to target the health and wellness industry, with a focus on investing in and building brands focused on healthier living and sustainability. 

HumanCo Acquisition plans to list on the Nasdaq under the symbol HMCOU. Citi acted as a lead manager on the deal.