Healthcare SPAC Healthcare Merger II files for a $300 million IPO

Healthcare Merger II, a blank check company led by Steven Shulman and William Sanger targeting the healthcare industry, filed on Thursday with the SEC to raise up to $300 million in an initial public offering.

The New York, NY-based company plans to raise $300 million by offering 30 million units at $10. Each unit consists of one share of common stock and one-third of a warrant, exercisable at $11.50. At the proposed deal size, Healthcare Merger II would command a market value of $384 million.

The company is led by Co-CEO and Director Steven Shulman, the Managing Partner of Shulman Family Ventures and former CEO of Magellan, and Co-CEO and Director William Sanger, the Co-Owner and Chairman of EA Health Solutions, Managing Partner of Sanger Holdings, and co-founder and Managing Partner of BIDON Companies.

Shulman's previous SPAC, Healthcare Merger Corp., completed its acquisition of SOC Telemed (TLMD; -28% from $10 offer price) this past October.

Healthcare Merger II was founded in 2020 and plans to list on the Nasdaq under the symbol HCXXU. The company filed confidentially on September 15, 2020. Cantor Fitzgerald is the sole bookrunner on the deal.