Medical technology SPAC Priveterra Acquisition files for a $200 million IPO

Priveterra Acquisition, a blank check company targeting the medical technology sector, filed on Thursday with the SEC to raise up to $200 million in an initial public offering.

The Fort Lauderdale, FL-based company plans to raise $200 million by offering 20 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Priveterra Acquisition would command a market value of $250 million.

The company is led by CEO and Chairman Robert Palmisano, who previously served as CEO of Wright Medical Group until it was acquired by Stryker in 2020, and also served as CEO of ev3 until it was acquired by Covidien. The company plans to target the medical technology sector.

Priveterra Acquisition was founded in 2020 and plans to list on the Nasdaq under the symbol PMGMU. The company filed confidentially on December 23, 2020. Wells Fargo Securities and Guggenheim Securities are the joint bookrunners on the deal.