Ignyte Acquisition, a blank check company formed by Ladenburg Thalman executives targeting the life sciences, biotechnology and healthcare sectors, filed on Monday with the SEC to raise up to $50 million in an initial public offering.
The New York, NY-based company plans to raise $50 million by offering 5 million units at $10. Each unit will consist of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Ignyte Acquisition will command a market value of $64 million.
The company is led by Co-CEO and Chairman David Rosenberg, who is currently the Co-CEO of Ladenburg Thalmann; Co-CEO and Director David Strupp Jr., who is a Managing Director and Head of Healthcare Investment Banking at Ladenburg Thalmann; and CFO and Director Steven Kaplan, who is a Managing Director and Head of Capital Markets at Ladenburg Thalmann. Ignyte Acquisition intends to target the life sciences, biotechnology, and healthcare sectors, specifically capitalizing on new innovative breakthrough technologies, modernized payment systems, and greater access to treatment that have the potential to deliver tangible value to society through improved quality of care and patient outcomes.
Ignyte Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol IGNYU. It filed confidentially on December 9, 2020. EarlyBirdCapital is the sole bookrunner on the deal.
