Med-tech SPAC Medicus Sciences Acquisition prices $80 million IPO

Medicus Sciences Acquisition, a blank check company targeting the medical technology sector, raised $80 million by offering 8.0 million units at $10. 

Each unit consists of one share of common stock; one-ninth of a warrant, exercisable at $11.50; and one right to receive at least two-ninths of a warrant following the initial business combination. The company may raise an additional $16 million at the closing of an acquisition pursuant to a forward purchase agreement with its sponsor.

The company is led by Executive Chairman Jacob Gottlieb, who founded Altium Capital Management in 2017 and currently serves as Managing Partner and CIO, and CEO and Director Michael Castor, who founded Sio Capital Management in 2006 and currently serves as the Portfolio Manager.

Medicus Sciences Acquisition intends to capitalize on the management team’s background and experience to identify promising opportunities in the the healthcare industry, particularly the medical technology sector, both in the US and internationally.

The New York, NY-based company listed on the Nasdaq under the symbol MSAC.U. Maxim Group LLC acted as lead manager on the deal.