Renaissance Capital logo

Life sciences SPAC Ignyte Acquisition prices $50 million IPO

January 28, 2021
IGNYU

Ignyte Acquisition, a blank check company targeting the life sciences, biotechnology and healthcare sectors, raised $50 million by offering 5 million units at $10.Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50.

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 plans to list on the Nasdaq under the symbol IGNYU. EarlyBirdCapital acted as a lead manager on the deal.