Medical technology SPAC Medicus Sciences Acquisition files for a $80 million IPO

Medicus Sciences Acquisition, a blank check company targeting the medical technology sector, filed on Wednesday with the SEC to raise up to $80 million in an initial public offering.

The New York, NY-based company plans to raise $80 million by offering 8 million units at $10. Each unit consists of one share of common stock; one-ninth of a warrant, exercisable at $11.50; and one right to receive two-ninths of a warrant following the initial business combination. The company may raise an additional $16 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor. At the proposed deal size, Medicus Sciences Acquisition will command a market value of $101 million. 

The company is led by Executive Chairman Jacob Gottlieb, who founded Altium Capital Management in 2017 and currently serves as Managing Partner and CIO, and CEO and Director Michael Castor, who founded Sio Capital Management in 2006 and currently serves as the Portfolio Manager. Medicus Sciences Acquisition intends to capitalize on the management team’s background and experience to identify promising opportunities in the medical technology sector.

Medicus Sciences Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol MSACU. Maxim Group LLC is the sole bookrunner on the deal.