Healthcare investment firms' SPAC HealthCor Catalio Acquisition prices upsized $180 million IPO

HealthCor Catalio Acquisition, a blank check company formed by HealthCor Management and Catalio Capital Management targeting healthcare, raised $180 million by offering 18 million shares at $10. The company offered 3 million more shares than anticipated. Unlike an ordinary SPAC, the company did not offer units with warrants attached. The company may raise an additional $25 million at the closing of an acquisition pursuant to a forward purchase agreement with the sponsor, an affiliate of HealthCor and Catalio.

The company is led by CEO and Director Christopher Gaulin, who has been a Portfolio Manager at HealthCor since 2018, and Chairman Joseph Healey, a co-founder and Portfolio Manager of HealthCor. They are joined by CFO Christine Clarke, the CFO of HealthCor, and President George Petrocheilos, a Co-Founder and Co-Managing Partner at Catalio Capital Management. HealthCor Catalio Acquisition intends to target the healthcare industry in the US and other developed countries, with a particular focus on the life sciences and medical technology sectors.

HealthCor Catalio Acquisition plans to list on the Nasdaq under the symbol HCAQ. Jefferies acted as a lead manager on the deal.