SPAC Healthcare Services Acquisition prices $288 million IPO at $10

Healthcare Services Acquisition, a blank check company targeting healthcare services and related industries in the US, raised $288 million by offering 28.8 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. Anchor investor BlackRock had indicated on $20 million worth of units in the offering. The company offered 4.8 million more units than anticipated; it originally planned to offer 30 million units before decreasing the offering size to 24 million units earlier this month.

The company is led by CEO and Chairman David Blair, the Executive Chairman of Accountable Health Solutions and former CEO of Catalyst Health Solutions, and President and Director Martin Payne, who has held executive leadership positions at MedX, Comprehensive Clinical Solutions, and HRGi. The company plans to target the healthcare services and related industries in the US.

Healthcare Services Acquisition plans to list on the Nasdaq under the symbol HCARU. B. Riley FBR acted as a lead manager on the deal.