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Healthcare-focused SPAC Digital Transformation Opportunities files for a $250 million IPO

February 16, 2021

Digital Transformation Opportunities, a blank check company the healthcare and healthcare technology sectors, filed on Friday with the SEC to raise up to $250 million in an initial public offering.

The Bellevue, WA-based company plans to raise $250 million by offering 25 million units at $10. Each unit consists of one share of common stock and one-half of a warrant, exercisable at $11.50. At the proposed deal size, Digital Transformation Opportunities would command a market value of $313 million.

The company is led by CEO and Chairman Kevin Nazemi, who currently serves as a Partner at startup investment and incubation firm Lobby 7 Capital. Nazemi previously was the founder and CEO of Renew Health and co-founder and Co-CEO of Oscar Health Insurance (OSCR). Digital Transformation Opportunities plans to target the healthcare industry, with a particular focus on healthcare technology and adjacent verticals.

Digital Transformation Opportunities was founded in 2020 and plans to list on the Nasdaq under the symbol DTOCU. Barclays is the sole bookrunner on the deal.