HighCape Capital Acquisition II, the second blank check company formed by HighCape Capital targeting life sciences, filed on Wednesday with the SEC to raise up to $200 million in an initial public offering.
The New York, NY-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-fourth of a warrant, exercisable at $11.50. Deerfield Management has indicated interest in purchasing one million units in the offering. At the proposed deal size, HighCape Capital Acquisition II would command a market value of $256 million.
The company is led by HighCape Capital co-founders CEO and Chairman Kevin Rakin and CFO, COO, and Director Matt Zuga, both of whom serve as Partners at the firm. The group's previous SPAC, HighCape Capital Acquisition (CAPA; +32% from $10 offer price), raised $100 million in September 2020 and is pending an acquisition of proteomics platform Quantum-Si. HighCape Capital Acquisition II plans to target the life sciences industry, including therapeutics, devices, diagnostics, medical information technology, and digital health companies.
HighCape Capital Acquisition II was founded in 2021 and plans to list on the Nasdaq under the symbol HCCRU. Cantor Fitzgerald is the sole bookrunner on the deal.
