Healthcare Capital Corp., a blank check company targeting the healthcare industry, raised $240 million by offering 24 million units at $10. The company offered 4 million more units than anticipated. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.
The company is led by Chairman David Milch, who has been an independent life sciences and tech investor for the past 30 years; CEO and Director William Johns, the founder and CEO healthcare-focused software firm National Provider Network; and CFO Philip Baseil, who previously served as COO of the Tradex Division at Cardinal Health (NYSE: CAH). Healthcare Capital Corp. plans to target the healthcare industry, with a focus on digital and telehealth, life sciences, innovative medical devices, and healthcare technology.
Healthcare Capital Corp. plans to list on the Nasdaq under the symbol HCCCU. Cantor Fitzgerald acted as a lead manager on the deal.
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